Technology

Delivery Startup Getir In Talks To Buy Gorillas: Report

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Turkish fast delivery startup Getir is in advanced talks to buy Berlin-based rival Gorillas Technologies GmbH, Bloomberg News has reported, citing people familiar with the matter.

The potential deal would give Getir scale in key European markets including the UK and Germany, the report said.

No final decisions have been made, but the proposed deal would be a mix of cash and equity, Bloomberg added.

Fundraising Plans

Gorillas was working with JP Morgan on its fundraising plans and other strategic options, which include the sale of some or all of its business, Reuters had reported in June.

Earlier this year Getir closed a $768 million (€791.8 million) funding round led by Abu Dhabi state investor Mubadala that valued the company at around $12 billion (€12.4 billion).

Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global participated in the funding round.

When contacted by Reuters, a Getir spokesperson said they could "neither confirm or deny" the Bloomberg report, while Gorillas said it will not provide any comment.

Gorillas

Recently, Gorillas announced the expansion of its Gorillas Premium and Gorillas Daily private-label ranges, as it seeks to bolster profitability within its operations.

New products under the Gorillas Daily umbrella include spreads, cold cuts, cheeses, sweet and savoury snacks as well as fruit juices, and are described as 'everyday grocery needs at fair prices'.

Read More: Gorillas' Alexander Brunst On The Profitability Of Quick Commerce

News by Reuters, edited by ESM – your source for the latest technology news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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