Glovo scales its Q-Commerce division
The Spanish delivery platform acquires Lola Market and Mercadão
Glovo, one of the world's leading players in multi-category delivery, announced today that it has concluded an agreement for the acquisition of Lola Market and Mercadão, two companies operating in the grocery delivery sector. These are both on-demand delivery platforms that connect customers and supermarkets, traditional markets and independent local stores. Lola Market operates in Spain, while Mercadão exclusively in Portugal; although together the two companies boast a portfolio of over 30 partners in the three countries.
The acquisitions complement the company's growth strategy, further consolidating the Q-Commerce division following the recent acquisitions of Delivery Hero in Eastern Europe and the € 100 million partnership with Swiss real estate company Stoneweg. Glovo believes that changing consumer habits are redefining the delivery industry and this is a reflection of this change. Thanks to this acquisition, it will be able to cover the 3 main shopping opportunities for consumers: essential and so-called emergency products, fast shopping (the basket), and planned shopping (shopping cart).
Following the acquisitions, it will strengthen its competitive position in key European markets. According to forecasts, this year the company's Q-Commerce division will reach an annual Gtv (Gross Transaction Value) of more than 300 million euros, a value that is expected to more than triple by the end of 2022, surpassing a run rate of 1 billion. dollars. Both brands will maintain their respective identities, operating independently from Glovo and under the leadership of Gonçalo Soares da Costa .
Oscar Pierre, CEO and co-founder of Glovo, said: “We see huge potential in the on-demand shopping marketplace and both companies are strong local players in their respective markets, which will further strengthen our Q's offering. -Commerce. With Lola Market and Mercadão on board, we can build stronger partnerships with retailers, offer our buyers big basket purchases, and ensure a more comprehensive service. These acquisitions represent a significant step forward for us, being now able to cover all key purchasing options for customers in the grocery sector and making the company a one-stop-shop for e-groceries”.
EFA News - European Food Agency