Expansion

Doordash buys Finnish delivery company Wolt

The Wolt couriers are now also on the road in Hamburg.
Wolt
The Wolt couriers are now also on the road in Hamburg.

A billion-dollar acquisition is bringing US delivery service Doordash to Europe with a bang. The company is absorbing the Finnish delivery service Wolt, which is already established in the market and has gained a foothold in Germany.

The US provider Doordash is acquiring the Finnish delivery service Wolt. The two companies made the announcement in a joint press release. Wolt Co-Founder and CEO Miki Kuusi announced on the company blog that this would create a player that could become the global leader in the industry. The deal is an equity acquisition deal with the value of 7 billion euros.

All Wolt shareholders would consequently become shareholders in Doordash, according to reports from Finland. The international business of the two delivery services would be combined. "I expect this will come as a surprise to many," said Wolt co-founder and CEO Miki Kuusi. He said he himself was also not expecting it when Doordash approached him.

About Wolt
Wolt is active in 23 European and Asian countries, and since last year also in Germany. Just recently, the delivery service, which mainly specializes in delivering food from restaurants, announced plans to open dark stores in this country. For Doordash, the acquisition marks its entry into the European market. The US delivery service has only recently taken over a share of the local fast delivery service Flink.



This text first appeared on www.lebensmittelzeitung.net.

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