Glovo has acquired two grocery delivery companies, Portugal-focused Mercadão and Spain's Lola Market.
Glovo has bought two grocery delivery companies: Portugal-focused Mercadão (which works with Pingo Doce) and Lola Market from Spain, the company announced in a statement this Tuesday.
The values of the transactions were not disclosed. However, it comes after Glovo completed a €450 million funding round earlier this year.
Like other companies in the industry, Barcelona-based company has also been looking to expand its quick-delivery service and operations in Europe through a number of acquisitions. Earlier this year, it announced the acquisition of Delivery Hero’s operations in Eastern Europe for a total of €170 million.
The company also explained that the two brands, with a portfolio of more than 30 partners in Portugal and Spain, will keep their respective identities, operating independently from Glovo.