Getir has acquired rapid delivery firm Gorillas for £1.2 billion, which will see the grocery delivery platform upgrade and expand its network and services across the UK.
Founded in Germany in 2020, Gorillas operates a network of more than 230 stores in nine countries.
The company reported robust growth last year as its sales tripled, taking its value to $3bn last September.
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Gorillas employs riders on permanent contracts and has hired a team of more than 15,000 employees worldwide.
In a tweet, Getir co-founder Nazim Salur said: “Markets go up and down, but consumers love our service and convenience is here to stay.
“The super-fast grocery delivery industry will steadily grow for many years to come and Getir will lead this category it created seven years ago.”
“As funding stagnates for the Q-Commerce industry, food prices continue to inflate, and consumers struggle with the cost-of-living crisis, it is unsurprising to see Q-commerce businesses making moves in order to survive what will likely be a difficult 2023 for the sector,” director of retail at NTT Data UK&I, Geoff Lloyd said.
He added, highlighting what the acquisition could mean for the sector: “The move from Getir to acquire Gorillas will bolster the Turkish Q-commerce giant’s influence, significantly increasing its presence in the UK.
“However, it is clear that the acquisition of Gorillas is a bid to stay afloat during turbulent times in the retail industry – in the last 3 months alone, traffic to the Getir website has plummeted by almost 50%.
“Despite this acquisition, the future doesn’t look too bright for Getir, as more consumers are becoming conscious of costs and are turning away from Q-commerce as a result.”
Recent research from NTT Data found that consumers are becoming more cost-conscious with their purchases and are now prioritising this over convenience.
“As a result, fewer consumers are now willing to accept the higher cost that comes with the Q-commerce model, whether it is through higher pricing of products or additional costs they need to pay for delivery to their doorstep,” Lloyd added.
The news comes as three-quarters of Getir’s network of 100 dark stores are run by franchisees just a year after the company launched the new model.
