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05/26/2021

Delivery Hero adjusts its global footprint as Glovo takes over certain operations in the Balkan region

DGAP-News: Delivery Hero adjusts its global footprint as Glovo takes over certain operations in the Balkan region

DGAP-News: Delivery Hero SE / Key word(s): Strategic Company Decision/Mergers & Acquisitions
26.05.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

  • Delivery Hero and Glovo have entered into an agreement regarding Glovo acquiring Delivery Hero's operations in Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Romania, and Serbia
  • Glovo will acquire the local businesses for a transaction value of approximately EUR 170 million
  • The transaction allows Delivery Hero to further optimize its operational footprint and invest in other core markets and verticals which are key to its strategy

Berlin, 26 May 2021 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, today announced that Glovo will acquire Delivery Hero's operations in the Balkan region. Glovo will take over Delivery Hero's businesses in Bosnia Herzegovina, Bulgaria, Montenegro, Romania and Serbia, and acquire certain assets of Delivery Hero's Croatian operations.

Present in all six countries and already holding a very strong position, Glovo is well-placed to continue investing into improved customer experience, long-term and sustainable operations, and further build-out the businesses locally. The aforementioned countries will be rebranded to Glovo's company brand following a transition period. Delivery Hero will keep strengthening its global presence and focus on delivering an amazing experience to its c. 50 global markets.

The transactions involving Bosnia Herzegovina, Bulgaria, Croatia, Montenegro, and Serbia are expected to close within the next few weeks, subject to the fulfilment of the conditions precedent. Romania is expected to close by Q1 2022, subject to the fulfillment of the conditions precedent and relevant regulatory approvals.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: "Delivery Hero has built a clear leading business in the Balkan region in the last couple of years. However, with a lot of operational priorities on our plate, we believe Glovo would be better positioned to continue building an amazing experience for our customers in this region."

Oscar Pierre, CEO of Glovo, said: "It's always been central to our long-term strategy to focus on markets where we see clear opportunities to lead and where we can build a sustainable business. Central and Eastern Europe is a very important part of that plan. The region has really embraced on-demand delivery platforms and we're very excited to be strengthening our presence and increasing our footprint in countries that continue to show enormous potential for growth."

ABOUT DELIVERY HERO
Delivery Hero is the world's leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 10-15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com

ABOUT GLOVO
Glovo is a pioneering multi-category delivery app and one of the world's leading delivery platforms. Founded in Barcelona in 2015, it operates in South West Europe, Eastern Europe and Sub-Saharan Africa. The app connects users with restaurants, grocery chains, pharmacies and retail stores, and also includes an "anything" category that allows users to order whatever they want.

MEDIA CONTACT
Sigrid Dalberg-Krajewski
Senior Director, Corporate Communications
+49 170 56 35 160
press@deliveryhero.com

INVESTOR RELATIONS CONTACT
Daniel Fard-Yazdani
VP, Head of Investor Relations
+49 170 56 35 160
ir@deliveryhero.com

DISCLAIMER
This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.



26.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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