Getir adds Gorillas to its portfolio

Getir adds Gorillas to its portfolio
Photo credit: Getir

Quick grocery delivery company Getir has bought its German peer Gorillas, a move which the company says ‘reaffirms its long-term commitment and dedication to the sector.’

This acquisition is the latest the Turkish company has made within a short period of years; having also acquired Weezy (UK) and Frichiti (France). While its US rival GoPuff has made two UK acquisitions: Dija and Fancy.  

A report in the Financial Times values the acquisition of Gorillas at approximately USD 1.2bn (from USD 3bn last year) and that investors such as Delivery Hero, Coatue Management, Tencent and DST will receive USD 40mn in cash in addition to equity. Some are, however, set to lose out as a result of the company’s devaluation.