The acquisition of the Serbian, Bulgarian, Montenegrin and Bosnian Delivery Hero entities was completed on 17 June. In Romania, where Glovo is acquiring Delivery Hero’s Foodpanda business, the transaction is conditional upon clearance by the Romanian Competition Council.
“The acquisition was complex given the nature of the sector, the manner in which the business is organized for the delivery of foods and goods through internet technology, as well as given the transaction structure entailing separate sale purchase agreements,” said Wolf Theiss representatives.
Through this landmark deal, Glovo acquired the Foodpanda brand in Romania and Bulgaria, the Donesi brand in Serbia, Montenegro, Bosnia and Herzegovina, and Pauza in Croatia. Earlier this year Wolf Theiss also assisted Glovo in the acquisition of the Slovenian food delivery firm Ehrana.
“We are grateful to have been together with Glovo and the lead Spanish counsel Uria Menendez in this strategic e-commerce / multi-category delivery app transaction. For Wolf Theiss team, it is always a delight to assist world’s leading players in strengthening their footprint in the CEE region. My colleagues in all 6 CEE jurisdictions have masterfully put all their dedication and expertise into the successful completion of this project,” said Ileana Glodeanu, Wolf Theiss Partner and Coordinator of the Corporate / M&A team in Romania.