This deal represents Glovo’s fifth acquisition in seven months. Kitch, which specialises in boosting the digitalisation of restaurants, will continue to operate independently.
Kitch has developed a technology platform that allows restaurants and shops to combine all delivery company apps (UberEats, Glovo, Just Eat, …) into a single app, simplifying ordering and delivery logistics. Kitch started in 2019 by running its own dark kitchens in Lisbon but soon discovered that the value of its business model resided in its takeaway and delivery management technology that it now sells to restaurants in multiple countries.
Hogan Lovells handled the Spanish aspects of the deal, with Portuguese firm Gama Glória coordinating the Legal advice to Kitch.
Hogan Lovells team was formed by partner and head of the Corporate and Commercial practice of Hogan Lovells Madrid office Alex Dolmans, partner and head of the Hogan Lovells Antitrust, Competition and Economic Regulation practice in Madrid Casto González-Páramo, and Alberto Bocchieri, Corporate/M&A lawyer.
Glovo was advised by Uría Menéndez Lisbon and Barcelona. The firm declined to provide information about the deal´s team.
According to the statement issued by Glovo, the aim of the deal is to be able to export Kitch’s technology to the 25 countries where Glovo is present, with an initial expansion to Italy and Georgia.