Grocery delivery service Gorillas has acquired French rival Frichti for an undisclosed sum.
The move comes just a month after both companies entered into exclusive discussion to partner in a bid to shape the next generation of instant on-demand delivery.
Frichti delivers fresh groceries, private label products and ready-to-eat meals to over 450,000 customers in eight key cities in France and Belgium.
It is also one of the first companies in the young industry to have reached profitable operations.
READ MORE: Gorillas names Luanne Calvert as CMO
“By joining forces with Frichti, we have an opportunity to reinvent the future of commerce by giving millions of customers immediate access to fresh and high-quality local products,” Gorillas founder and CEO Kagan Sümer said.
“We have a strong business fit with the Frichti team, and most importantly, we have a mutual understanding of values and an incredible alignment in terms of vision. Together, we will further increase our path to profitability and generate significant value for all of our stakeholders.”
Frichti co-founder and co-CEO Julia Bijaoui added: “Over the past six year, we have been committed to help people eat and live well through sustainable and positive consumption.
“Thanks to our incredible team, we have never lost sight of this mission and developed numerous initiatives to drive change in the grocery retail industry. With Gorillas, we have found the perfect partner to scale this ambition globally.”
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