According to FAZ information, the Berlin food delivery service Gorillas is about to be sold to its direct competitor Getir.

The Bloomberg news agency first reported on it.

According to industry insiders, a key data paper on the sale was signed last week.

Nevertheless, the sale is not yet fully completed and could still fail.

Gorillas and Getir declined to comment on a potential deal.

Maximilian Sachsen

Editor in Business

  • Follow I follow

According to insiders, the valuation of gorillas is likely to be less than one billion euros - and thus significantly below the value of the start-up at the end of last year.

There, investors attributed the company a value of more than 2 billion euros.

Gorilla owners would be paid part in Getir shares and part in cash in the proposed deal.

For Getir, a takeover of Gorillas would be an opportunity to gain a foothold in Europe.

The Turkish industry pioneer has existed since 2015, but only entered the European market much later.

Since 2021, the company's suppliers have also been delivering groceries on German roads.

In March, Getir raised almost 700 million euros, with a valuation of more than 10 billion dollars.

So far, however, Getir has found it rather difficult to snatch market share from the established start-ups Gorillas and Flink.

Rebate battles costing millions

Gorillas was founded in 2020 in the midst of the pandemic with a promise to deliver supermarket items to your door in ten minutes.

At first there was great euphoria, and Gorillas aggressively expanded into new markets.

But the competition in the market is fierce.

In order to win customers, the delivery services fight discount battles.

It costs her a lot of money.

The entire industry has not been profitable so far and is struggling with rising interest rates, which make it difficult for companies to get fresh money.

High inflation also makes customers more economical.

Market experts therefore consider consolidation to be inevitable.

Gorillas had already laid off 300 employees in administration in May, half of the employees there.

The company also announced that it would withdraw from four markets and focus on the core markets of Germany, France, Great Britain, the Netherlands and the USA.

Gorillas also announced in February that they wanted to collect another 630 million euros.

The company had completed a financing round of EUR 860 million just a few months earlier.

However, the search for investors proved difficult.

Over the summer, Gorillas is said to have negotiated a cash injection or a sale with various interested parties.