Express delivery service Gorillas is apparently about to be sold to Getir
The Berlin express delivery service Gorillas is apparently about to be sold. According to insider reports, the company is in advanced talks with Turkish start-up Getir. The company probably wants to position itself more strongly in the German and British markets.
The Turkish delivery service Getir is apparently about to take over the Berlin counterpart Gorillas. Like the news agency Bloomberg citing insiders, the two companies are already in advanced talks.
Accordingly, the forthcoming deal is a mixed financing of cash and equity. However, a final decision is still pending. Neither Gorillas nor Getir have commented on the takeover rumors so far.
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Getir wants to strengthen its market position with the Gorillas takeover
With a possible merger, Getir would position itself more strongly, especially in Germany, France and Great Britain. In addition to major German cities, Gorillas is also active in the English metropolises of London and Manchester as well as in Paris.
According to insider reports, Gorillas had previously held talks with other competitors. It was about possible mergers as well as a complete takeover. The Berlin express delivery service is apparently fundamentally examining several options for returning to profitability.
Gorillas and Getir are highly deficient
After its inception in 2020, Gorillas quickly attracted capital. At the beginning of the COVID-19 pandemic, the company again experienced a real upswing. A year ago, the company was again valued at around three billion US dollars.
Since then it has gone steadily downhill. After the express delivery service regularly made headlines with poor working conditions, the company announced the layoff of hundreds of employees in May 2022. Meanwhile, CEO Kagan Sümer said earlier this year that the company would need new financiers to become profitable again.
Flink is now the market leader in Germany
In Germany, Gorillas has meanwhile lost its market leadership to its competitor Flink. However, with fresh money from Getir, the company could cut its losses. By June 2023, the express delivery service wants to be profitable in at least two core countries. This should apply to the entire company by the end of 2023.
However, it is at least questionable whether a takeover by the Turkish competitor is realistic. Because Getir is also in deficit. For the current year, analysts are forecasting that the company will make a loss of over one billion US dollars.
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