Glovo expands in Poland after EUR 30 million acquisition on PizzaPortal

Aurel Constantin 07/11/2019 | 23:56

Glovo, one of the fastest growing players in the worldwide order-delivery market, today announces that it has acquired the largest food delivery platform in Poland, PizzaPortal.

AmRest Holdings SE, Europe’s leading multi-brand franchise restaurant operator, has signed an agreement with Glovo, which provides for the sale of 100 percent of the shares held in the partner restaurant Polska Sp., the owner of the PizzaPortal food ordering platform. The agreement is valued at EUR 30 million, plus a profit of EUR 5 million.

The Barcelona-based start-up, which delivers everything from food to pharmaceuticals, is expanding its presence in Europe, reinforced with a recent EUR 150 million Series D funding.

Co-founded in January 2015 by Oscar Pierre and Sacha Michaud, Glovo’s growth was driven by venture capital investments. Launching in a new city every four days on average, last year, Glovo now employs over 1,300 people and is fast becoming the fastest growing delivery provider in Latin America and EMEA.

As it escalates worldwide, Glovo is committed to taking its technological capabilities and systems to the next level. With the appointment of Mustafa Sezgin as VP of Engineering at the end of last year, Glovo plans to build an engineering team of 300 people, by opening its first technology hub outside of Barcelona, ​​in Warsaw, Poland.

Poland has become an incredibly attractive location for technology startups, who are starting to establish and build their technology teams and data analysts there due to the country’s specificity, with a technology history and prosperous economy. Glovo plans to start by hiring 40 new engineers and 50 tech and product experts, working mainly in the Warsaw office. It is expected that this will constitute half of Glovo’s technical capacity, with plans for further expansion on the market.

“Glovo continues to grow rapidly, and following the success of our previous round of investments, we continue to expand into new markets. With the acquisition of PizzaPortal, we are pleased to further strengthen our strategic partnership with AmRest and we are excited about the opportunities it presents. Our ambition is to lead every market we enter and to provide a first-class express delivery experience for our users, glover and partners,” said Oscar Pierre, CEO of Glovo.

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