AmRest Holdings SE sold its 7.5% stake in Glovo to Delivery Hero for EUR 76.2 million, aligning with its delivery-focused strategy amidst pandemic-induced challenges.
Target Information
AmRest Holdings SE is an international foodservice company operating a portfolio of well-known restaurant brands in various countries. In 2020, the company faced significant challenges due to the COVID-19 pandemic, which disrupted the foodservice industry globally. Despite these challenges, AmRest managed to adapt and respond to changing consumer behavior by focusing on delivery and take-out services.
During this unprecedented year, AmRest successfully implemented health and safety measures to protect both its customers and employees. The company also diversified its sales channels, including enhancements to its online and delivery strategy, which allowed AmRest to mitigate the impact of restrictions on traditional dining services.
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Industry Overview
The foodservice industry has experienced a dramatic shift as a result of the COVID-19 pandemic. In several countries, including those where AmRest operates, government-imposed lockdowns resulted in the temporary clo
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Delivery Hero
invested in
Glovo
in 2020
in a Other deal
Disclosed details
Transaction Size: $89M
Revenue: $1M
EBITDA: $237M