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November 6, 2019updated 01 Nov 2021 8:23am

Glovo buys Polish food delivery platform Pizza Portal

Spanish on-demand delivery company Glovo has aquired Poland's largest food delivery platform Pizza Portal for €30m plus a €5m earn-out.

By Rosie Lintott

Spanish on-demand delivery company Glovo has aquired Poland’s largest food delivery platform Pizza Portal for €30m plus a €5m earn-out.

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Multi-brand European franchise restaurant operator AmRest Holdings signed the agreement with Glovo, selling 100% of its stake in restaurant partner Polska, the owner of PizzaPortal, making Glovo Poland’s largest food-service platform.

Glovo expanded its presence in Europe after a Series D funding injection of €150m. It is now working on opening its first technology hub in Warsaw, Poland that will employ 300 people as part of the engineering team, after appointing Mustafa Zengin as vice-president of engineering last year.

The company plans to hire 40 new engineers and 50 technology and product experts to start with, making up half of its technology capacity, and plans to expand further into the market.

Barcelona-based Glovo was founded in 2015 by CEO Oscar Pierre and Sacha Michaud; last year it launched in a new city every four days on average and now employs over 1,300 people.

Glovo CEO Oscar Pierre said: “Glovo continues to experience rapid growth, and following the success of our previous round of investment, we’re continuing our expansion into new markets. With the acquisition of PizzaPortal, we’re pleased to be further strengthening our strategic partnership with AmRest and are excited for the opportunities that this presents. Our ambition is to lead every market we enter and to provide a first-class, express delivery experience for our users, ‘Glovers’ and partners.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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