Photo credits @ Getir (illustrative puproses)

Getir to acquire Gorillas in all-stock deal, reports FT outlet Sifted

Turkish grocery delivery firm Getir is set to announce the acquisition of German-based competitor Gorillas in an all-stock deal, reports the Financial Times information site dedicated to European start-up news,

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According to Sifted, an agreement has been reached between Gorillas, the German quick trade start-up, to take over Turkish grocery delivery start-up Getir. The agreement is said to have been preceded by several months of discussions.

The news site refers to two sources familiar with the deal, and adds that the purchase includes Gorillas investors injecting a further $100m into the speedy grocery delivery company to get it over the line.

The deal also means that Gorillas investors won’t receive any money for their shares, which is contrary to previous reports that had suggested that the agreement would give Gorillas’ shareholders single-digit equity in Getir and $100m in cash.

As Sifted’s information on the deal hasn’t been confirmed officially yet by either party, Trans.iNFO has reached out for more details to both companies.