Glovo buys food sales application from owner of brands Burguer King and Pizza Hut – Jornal Económico

Glovo has disbursed more than € 30 million on the purchase of the Pizza Portal meal delivery application, which currently operates in Poland, reports the Spanish newspaper Cinco Días this Wednesday, August 14.

THE app It was bought from Spain's AmRest, owner of brands such as Pizza Hut, Burguer King and KFC. The purchase agreement was signed on Tuesday, and with this transaction, AmRest will receive new shares in Glovo's capital and a further five million euros for price adjustments.

The Spanish National Securities Market Commission (CNVM) assumed on Tuesday that the sale contract was confirmed, with 100% of the shares of the Polish company Pizza Portal. Still, in addition to the 30 million euros, AmRest will still receive shares of Glovo.

Glovo is an ordering platform online and food delivery at home. It has over 5.5 million users worldwide and is present in 202 cities in 26 countries in Eastern Europe, the Middle East, Africa, Latin America and sub-Saharan Africa, including Portugal.

AmRest posted a net profit of 3.8 million euros in the first quarter of the year, down 15% from 4.5 million euros in the same period last year.

Source link