Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
talabat Holding on Thursday announced the successful acquisition of instashop, a leading online grocery delivery agency in MENA, from its parent company Delivery Hero SE for $32 million.
Delivery Hero, a German company, continues to hold an 80% stake in talabat after it was listed on the Dubai Financial Market through an initial public offering.
With this acquisition, instashop becomes a wholly-owned subsidiary of talabat. However, Delivery Hero will continue to exercise control over instashop via talabat.
The sale and purchase agreement, first announced in September 2024, was fully funded through talabat’s internal cash reserves.
instashop will continue to operate as an independent brand within talabat’s grocery and retail vertical, a statement from talabat said.
Founded in June 2015 and headquartered in Dubai, instashop is a leading online marketplace that seamlessly connects users with vendors. Specialising in the grocery and retail sectors across the UAE and Egypt, instashop offers a wide range of products, including groceries, pharmacy items, beauty essentials, and other personal care products.
Tomaso Rodriguez, Chief Executive Officer of talabat, commented: “The acquisition supports and complements our strategy to grow our grocery and retail offering. By integrating instashop’s innovative platform into our operations, we aim to create a more seamless and efficient delivery experience for our customers across the UAE and Egypt.”
Nikola Cabarkapa, Chief Executive Officer of instashop, commented: “Joining forces with talabat marks an exciting new chapter for instashop. We have always been dedicated to connecting our users with their favourite local stores, and now, with talabat’s support, we can amplify our impact even further.”
