Dordash said on Tuesday that it had agreed to buy its UK rival Deloro for about $ 2.9 billion (about $ 3. 3.29 billion), as the US Food Delivery Company tries to expand new markets.
Companies said the Dordssh would pay 180 pens per share to the Delivery Share Holders, which represents the premium of 44 % at the cost of the latter on April 4, when the US firm approached with his offer.
The deal will give Dordsh access to nine new markets in Europe, where Delivero works primarily. Companies are betting on their joint scale that they will also help to compete with competitors, such as Just -Takeway and Uber Eat.
Dordsh said he would work in 40 countries and serve a total of 50 million monthly active users after the acquisition was closed.
Established in 2013, Deloro went publicly in 2021, when the Grocery and Food Delivery Department was riding on the post-post-Tel Winds after the post-people were still trying to stay home, working far away, and so much more than that. The launch of the Food and Grocery delivery was being laid in the drives and the venture capital’s piles were attracted.
But as soon as Covade’s fears were over and people returned to buy personally to shopping and starting a restaurant and cafes, food and grocery delivery, suddenly felt to adjust themselves to adjust the rapidly changing consumer behavior. It did not help that the capital decline in 2022 started declining as interest rates increased and venture investors occupied their checks as they tried to invest more profitable.
Since the list, Delivero’s shares have decreased by more than 50 % by April 4. In this March, the company Its Hong Kong business sold to Delivery HeroReferring to intense competition. It was also out of Australia in 2022, where he faced similar pressure.
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Deliveo reported about $ £ 2 billion in the year ended December 2024 and the gross transactions worth $ 7.1 billion.