Delivery Hero Acquires Glovo’s LATAM Business | PYMNTS.com

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Delivery Hero said on Wednesday (Sept. 16) that it has acquired fellow delivery service Glovo’s Latin American operations for about $272 million.Delivery Hero focuses only on food. Glovo says it will deliver just about anything.Germany-based Delivery Hero already operates in Argentina, Panama and the Dominican Republic – countries also served by Glovo – and is adding Peru, Ecuador, Costa Rica, Honduras and Guatemala through the deal, according to Wednesday’s news release. Glovo will continue to operate the businesses in the five countries that are new to Delivery Hero until March of 2021.Niklas Östberg, CEO and co-founder of Delivery Hero, said in a prepared statement: “Latin America is a region with exceptional growth potential for online delivery. Acquiring Glovo’s local operations gives us the opportunity to double down on our efforts to drive innovation, continuously improve customer experience and support local vendors in the region. We have been working closely with Glovo for many years, and are proud to incorporate their Latin American services into our global network.”Oscar Pierre, CEO of Glovo, said in a prepared statement: “We feel that it’s important to focus on key markets where we can build a long-term sustainable business and continue to …

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