TÜRKÇE
Getir to Acquire German Rival Flink
Turkish rapid delivery company Getir is in talks to acquire Flink, the market leader in Germany. This move signals significant consolidation in Europe’s fast grocery delivery sector.
The Big Move Between Getir and Flink
Flink, established at the peak of the pandemic in 2020 and one of Europe’s last independent grocery delivery groups, is in the process of being acquired by its Turkish rival Getir. This development comes just five months after Getir’s acquisition of its Berlin-based competitor Gorillas in a $1.2 billion deal, making it Europe’s largest quick commerce company.
The Future of Flink and Getir’s Expansion Plans
Flink itself is also seeking a $100 million funding increase from investors, valuing the company at over $1 billion. While still a loss-making company, Flink’s main operation in Germany is expected to become profitable by the end of this year. During this process, with its subsidiaries in France and the Netherlands, the company aims for its entire operation to be profitable by the end of the fourth quarter of 2024.
Consolidation and Competition in Europe
This potential merger between Getir and Flink will further consolidate Europe’s food delivery market, which has seen many major acquisitions in recent years. If the acquisition is completed, Getir’s only major competitor in the European market will be GoPuff, essentially giving Getir a monopoly on fast grocery delivery on the continent.
Getir’s Market Position and Challenges Faced
While Getir’s position at the top seems secure, the company is yet to be profitable in Europe and laid off 14% of its global workforce in May 2022. However, as competition diminishes, remaining major players like Getir are expected to capitalize on still relatively high demand for fast grocery delivery.
