Almost a year and a half after the billion-dollar takeover of Gorillas, the food supplier Getir is withdrawing from Germany, according to media reports. Business in other European markets should also cease in mid-May. writes that Business Week. In the future, the Turkish company will only concentrate on the domestic market.
One Report of Business Insider according to Getir, which was temporarily valued at twelve billion dollars, is even on the verge of complete collapse. Major shareholder Mubadala has lost patience with management because it has not yet come up with a viable business model. Among other things, the Abu Dhabi sovereign wealth fund is upset that Getir and Gorillas were not merged into one brand in Germany in order to save costs.
When asked by the dpa news agency, Getir did not comment on the reports. The company simply said that it does not comment on market rumors. However, the Bloomberg news agency also reports, with reference to informed circles, about possible sales or closures at the company.
Getir took over the ailing competitor Gorillas in Germany at the end of 2022. In the summer of 2023, the company announced its withdrawal from Spain, Portugal and Italy. A few weeks later, Getir cut thousands of jobs. At that time it was said that they wanted to concentrate business in Europe on Germany. The market is considered highly competitive due to the low margin. The delivery business boomed during the Corona pandemic, with young people in large cities in particular taking advantage of the new options, but interest fell noticeably afterwards. At times there was also speculation about a merger between Getir and its German rival Flink.