Madrid, July 18th, 2018: AmRest Holdings SE (WSE:EAT), a leading publicly listed restaurant operator in Europe, announced today its participation in the share capital increase of Glovo, Spain’s leading food delivery platform, which is to be conducted via a private placement.
As a result of the investment AmRest will become one of Glovo’s co-lead investors. The transaction will assure AmRest a board seat in Glovo.
Glovo was founded in 2015 in Barcelona by Oscar Pierre and since then has grown to become the most successful aggregator offering delivery services to restaurants in Spain. It has recently expanded to other European markets as well such as France and Italy and services around 1.0m orders from customers per month.
Taking into consideration the growing importance of digital technologies in the consumer foodservice sector and the increasing market share of the online food-ordering channel, it is a natural step to build a presence in the aggregator & digital delivery segment in Spain – the second biggest market of AmRest. The partnership with Glovo is a great fit to the Company’s strategy of achieving the leading position on all the markets of AmRest operation in both dine in and delivery segment.
The investment follows the acquisition by AmRest of a majority stake (51%) in Restaurant Partner Polska Sp. z o.o., which operates PizzaPortal.pl platform in Poland, an aggregator offering meals from 2,500+ different restaurants in 400 cities.
Adam Sawicki, Chief Digital Officer at AmRest said:
- Our engagement and strategic co-operation with Glovo is a powerful combination of one of the leading aggregators and a leading restaurant operator in Europe. For AmRest this is an important step in building our position in food technology and digitalization of the restaurant industry. We are very excited about the growth opportunities this partnership creates for both companies.
Oscar Pierre, Glovo’s co-founder and CEO commented:
- We are very happy to welcome AmRest as a shareholder. We firmly believe the support of one of the most important companies in the restaurant sector in Europe will allow us to continue growing rapidly thanks to the knowledge and extensive experience. This makes AmRest's financing the needed boost to keep optimizing the platform and offering the best service in the sector to our three main stakeholders: distributors, users and establishments; and thus become their reference delivery app.
- Our engagement and strategic co-operation with Glovo is a powerful combination of one of the leading aggregators and a leading restaurant operator in Europe. For AmRest this is an important step in building our position in food technology and digitalization of the restaurant industry. We are very excited about the growth opportunities this partnership creates for both companies.
Oscar Pierre, Glovo’s co-founder and CEO commented:
- We are very happy to welcome AmRest as a shareholder. We firmly believe the support of one of the most important companies in the restaurant sector in Europe will allow us to continue growing rapidly thanks to the knowledge and extensive experience. This makes AmRest's financing the needed boost to keep optimizing the platform and offering the best service in the sector to our three main stakeholders: distributors, users and establishments; and thus become their reference delivery app.
