KYIV. June 27 (Interfax-Ukraine) – One of Ukraine’s largest food delivery service, Eda.ua, which is part of the investment portfolio of Chernovetskyi Investment Group (CIG), has announced the completion of a merger with Foodout, a leading food delivery service in the Baltic states.
One of the largest food delivery company in Eastern Europe, Foodout Group, has been created as a result of the merger, CIG’s press service said.
Eda.ua users can order food in real time from local restaurants and cafes via the single Internet portal or mobile apps in a few clicks. At the moment Eda.ua cooperates with more than 1,500 restaurants in Ukraine.
“The merger will create one of the largest food delivery services in Eastern Europe. In addition to the Ukrainian market, where the Eda.ua service has strong positions, the merged company covers Lithuania, Latvia, Estonia and Iran. In the near future the service will be launched on the Belarusian market. Thus, Foodout Group will be present in six countries with a combined population of 140 million people,” the press service said.
The deal became possible due to combined efforts of CIG, the main investor of the Eda.ua service, and the Goldfish fund, which is the investor of the Foodout service.
The parties do not disclose the terms of the deal, noting that the merged company is estimated at tens of millions of euros. To support the geographic expansion plan, CIG also invested EUR1 million in the consolidated Foodout Group.