Delivery Hero is poised to fully own Glovo. More than six months after revealing the purchase agreement, the German delivery group has completed the steps needed to become the majority owner of the Catalan company. At a recent meeting, the board approved the share exchange with existing investors, securing Delivery Hero a roughly 94% stake in Glovo. The remaining steps now focus on capital raising and the potential for Glovo to join the stock market in Catalonia—or elsewhere in Europe—depending on regulatory approvals.
Delivery Hero explained the move in a formal statement, with the CEOs and co-founders of both firms offering congratulations. Niklas Östberg, chief executive of Delivery Hero, described the collaboration as a seamless fit and said the teams share a clear vision. He highlighted the ongoing opportunity to learn from one another, exchange knowledge, and unlock synergies across technology and operations.
For Oscar Pierre, Glovo’s co-founder and a key leader at the company, the partnership is expected to accelerate growth and product development. He noted that the merged platform will extend its reach across four continents, connecting millions of local merchants and delivery partners with a broader customer base. Pierre also emphasized the value of sharing expertise and technology with other brands within the group, signaling a collaborative path forward for Glovo’s leadership alongside Sacha Michaud.
According to the statement, Delivery Hero will extend its footprint to 74 countries and aim to serve up to 2.2 billion people worldwide, spanning four continents. Glovo, meanwhile, has committed to providing detailed performance updates for the first half of the year once the acquisition is formally completed—an event expected to occur in the coming weeks. This transparency is intended to reassure investors and partners about the post-merger trajectory.
stock market impact
Shareholders are the current beneficiaries of the arrangement. The deal was structured as a stock-for-stock transaction, meaning Glovo investors would receive Delivery Hero shares in exchange for their Glovo stock. Following the initial announcement, Delivery Hero’s share price faced volatility, reflecting market reaction to the merger news. What began at around 100 euros per share tightened to roughly 35 euros in the days that followed, indicating a substantial depreciation of value for the stock—about two-thirds of its initial level. Market observers note that such swings are common in large cross-border mergers and emphasize the importance of long-term integration plans.
Industry insiders suggest that a cash settlement option might have offered more immediate certainty for shareholders. However, the chosen structure aligns incentives with the merged entity’s future performance and capital needs. The ultimate value realization for investors will unfold as the new combined platform scales, expands into new markets, and demonstrates solid earnings performance post-close. Analysts expect the merged group to publish material updates detailing progress and milestones as the integration progresses. These disclosures will help stakeholders assess the true return profile of the transaction over time.