Rapid delivery service Getir to buy UK rival Weezy

Deal marks first sign of consolidation in Britain’s fast-growing on-demand grocery market

Last modified on Tue 23 Nov 2021 10.03 EST

The on-demand groceries business Getir is acquiring its rival Weezy, in the first sign of consolidation in the UK’s fast-growing rapid delivery market, in which companies aim to bring goods to customers in as little as 10 minutes.

Getir, founded in Turkey in 2015, operates in more than 50 cities in its home market, and has aggressively expanded since the start of the year into eight other countries, including the UK and US.

The company – whose name means “bring” in Turkish – offers customers a selection of about 2,000 grocery items, ordered online and delivered to their door within minutes at any time of day.

The ultra-fast delivery of products including milk, bread, beer and toilet paper has become the latest trend in online retail, as shoppers get a taste for avoiding a visit to the supermarket. Goods are sourced from local “dark stores”, which are not open to the public, enabling their speedy arrival on the doorstep.

Multiple rival firms including Getir, Gorillas, Dija, Zapp and Jiffy have been battling it out to dominate the UK market, offering discounts to consumers to win them over.

Getir said it had reached a “definitive agreement” to buy Weezy, the first rapid grocery business founded in the UK, as it looks to roll out its services to more places across the country. Getir declined to disclose the value of the deal, which it said further solidified its “long-term commitment to the UK market”.

Weezy, which was founded by two entrepreneurs in late 2019, delivers to customers in London, Manchester, Brighton and Bristol.

Motorcycle riders wearing Getir’s purple and yellow brand colours have become a familiar sight on the streets of the capital and other UK cities in recent months.

Since its arrival in the UK in January, the business has expanded to 15 cities including Manchester, Birmingham and Liverpool.

Turancan Salur, the UK general manager at Getir, said: “Teaming up with Weezy, which has quickly established itself across the UK, is an exciting opportunity and one that complements our people-first belief and business approach.”

He added: “We look forward to welcoming Weezy’s customers, employees and partners to the enlarged group.”

Getir said it would “join forces” with Weezy’s 700 employees. All of Getir’s UK workers, including their delivery riders, are employed by the company, meaning they are entitled to sick pay and holiday pay, which has long been a demand of gig economy workers.

We are incredibly excited to continue our journey in disrupting the skyrocketing ultrafast grocery market,” said Kristof Van Beveren, the chief executive and co-founder of Weezy. “Our alignment in purpose and culture is a winning formula for expansion globally.”

Investors have been pouring billions into the highly competitive rapid grocery delivery market in recent times, totalling more than $14bn (£10.5bn) globally since the start of last year, according to analysts at PitchBook.

Istanbul-based Getir has said it is valued at $7.7bn, and it announced in June it was expanding into the US, France and Germany after raising more than $550m in a funding round.

Some of the country’s largest supermarkets are taking notice of the rapid delivery market, and Tesco announced the first partnership of this kind with the German group Gorillas. It will test out 10-minute deliveries from a small number of its London stores.

Source: Read Full Article