Rapid grocery delivery service Getir has signed a deal to acquire rival company Weezy, in a move it says “solidifies Getir’s long-term commitment to the UK market.”
The agreement will see Turkey-headquartered Getir absorb Weezy’s 700 employees and four UK fulfilment centres, with the two firms not disclosing the financial details of the acquisition.
The newly merged companies will have a workforce totalling more than 4000 employees globally.
Weezy had reported struggling finances, with revenue of £161,400 against losses of £676,000 in 2020 – despite the surge in home grocery deliveries due to the pandemic.
It is understood that the company had been looking for a buyer for some time, having recently shut almost a quarter of its dark stores due to industry competition and had also been in talks with Getir rival Gopuff.
“Teaming up with Weezy, which has quickly established itself across the U.K., is an exciting opportunity and one that complements our people-first belief and business approach,” Getir UK general manager told CNBC.
“We look forward to welcoming Weezy’s customers, employees and partners to the enlarged group.”
“We are incredibly excited to continue our journey in disrupting the skyrocketing ultra-fast grocery market,” Weezy chief executive officer and co-founder Kristof Van Beveren told The Grocer.
“Getir has an unparalleled track record of achievements and experience with an equally ambitious team.”
“Our alignment in purpose and culture is a winning formula for expansion globally and we will continue to deliver an exceptional offering to consumers in minutes.”
The news comes as Getir expanded its operations into the US last week, beginning in Chicago, with New York and Boston to follow.