Glovo buys Delivery Hero Central and Eastern Europe brands

Spanish q-commerce startup Glovo has announced an agreement with online food delivery venture Delivery Hero to acquire some of its companies in Central and Eastern Europe.

Glovo will buy the foodpanda brand in Romania and Bulgaria, the Donesi brand in Serbia, Montenegro, Bosnia and Herzegovina, and Pauza in Croatia in deals worth €170 million.

In a separate deal, Glovo will also snap up Ehrana, a local delivery company in Slovenia, for an undisclosed fee.

Also of interest: Delivery Hero boss Niklas Östberg joins Zalando supervisory board

Oscar Pierre, CEO and Co-founder, Glovo, says: “It’s always been central to our long-term strategy to focus on markets where we see clear opportunities to lead and where we can build a sustainable business.”

“Central and Eastern Europe is a very important part of that plan. The region has really embraced on-demand delivery platforms and we’re very excited to be strengthening our presence and increasing our footprint in countries that continue to show enormous potential for growth.”

Niklas Östberg, CEO and Co-Founder, Delivery Hero, comments: “We have built a clear leading business in the Balkan region in the last couple of years.”

“However, with a lot of operational priorities on our plate, we believe Glovo would be better positioned to continue building an amazing experience for our customers in this region.”