Getir eyes German rival Flink takeover

Turkish delivery app Getir is discussing the takeover of German competitor Flink in a move that will bring it closer to consolidation in Europe’s food delivery market, the Financial Times said on Monday.

There is currently no guarantee of an agreement being reached.

Flink is also discussing the raise of funding of about $100 million from existing investors, for a valuation of more than $1 billion, according to the report.

Getir and Flink did not immediately respond to a Reuters request for comment.

Getir has acquired rapid grocery delivery rival Gorillas in a £1bn deal. The agreement allegedly included a clause that Gorillas investors must inject a further £82m ($100m) into the company.

The delivery company also snapped up UK’s Weezy in November 2021 in a move it said “solidifies Getir’s long-term commitment to the UK market”.

But the quick expansion prospects took a hit as quick commerce businesses faced the decreasing consumer demand following the ease of lockdown restrictions and the ongoing cost-of-living crisis.

Flink remains one of the last surviving independent grocery delivery services on the market. In March, German retail sales tumbled by 2.4%, following a 1.3% drop in February, according to Destatis, amounting to an 8.6% year-over-year decline.

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Earlier in April, Getir’s French subsidiary asked the Paris Commercial Court for its placement in receivership.

“The reasons that led Getir to take this decision are specific to France,” the company said in a statement.

Getir is currently present in 9 countries (Turkey, Germany, United Kingdom, Netherlands, United States, Italy, Portugal, Spain and France).

The Getir employees Charged has spoken to expressed concerns over the company’s future as it carried out mass dark store closures and laid off workers without warning.



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