Grocery delivery firm Getir acquires embattled rival Gorillas as industry consolidates

The long-rumored takeover reportedly values Gorillas at $1.2 billion, down 15% from its last valuation.

A bike courier outside a grocery warehouse operated by Gorillas Technologies GmbH in the West Kilburn district of London, UK, on Thursday, Dec. 8, 2022.Turkish grocery delivery firm Getir acquired its German rival Gorillas for an undisclosed amount, the company said Friday.

"The super fast grocery delivery industry will steadily grow for many years to come and Getir will lead this category it created 7 years ago.", in which investors are reevaluating positions in companies most exposed to the effects of tighter monetary policy and a rising cost of living.

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