The announcement from the delivery company comes as it looks to roll out its services to more places across the United Kingdom.

Getir attracted around $1 billion in three back-to-back funding rounds this year, putting its valuation at more than $7.5 billion.
Getir attracted around $1 billion in three back-to-back funding rounds this year, putting its valuation at more than $7.5 billion. (AA Archive)

Turkish fast grocery delivery company "Getir" has signed a deal to buy British rival Weezy.

The latest move announced by Getir on Tuesday comes as the sector sees a wave of consolidation.

Getir currently operates in several west European countries, as well as the United States.

It has been promoting its brand heavily across London.

Getir attracted around $1 billion in three back-to-back funding rounds this year, putting its valuation at more than $7.5 billion.

The fast delivery of products including eggs, toilet paper, milk, bread, and vegetables has become the latest trend in online retail. 

The service allows customers to avoid making a trip to the market and has seen tremendous growth during the pandemic.

Financial terms for the deal were not disclosed.
Financial terms for the deal were not disclosed. (Reuters Archive)

'Definitive agreement'

The company said it had reached a “definitive agreement” to buy Weezy, the first rapid grocery business founded in the UK.

The announcements of the deal announced as the company looks to roll out its services to more places across the country.

The pandemic has fuelled demand for food and grocery delivery businesses.

Many such businesses, however, are still losing money as they seek to build market share, fuelling deals.

In the most recent, US company DoorDash Inc said this month it would buy Finland-based rival Wolt Enterprises OY in an all-stock deal valued at about $7.9 billion (7 billion euros) as it expands into Europe.

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Source: TRTWorld and agencies