German online food giant Delivery Hero, which operates in 29 markets across five continents, has now moved into Turkey with the acquisition of Yemeksepeti. Yemeksepeti, which was launched 15 years ago, became market leader in Turkey. The company processes over 3 million orders each month and grows at 60 percent each year.
Delivery Hero agreed on Tuesday to buy Yemeksepeti in a deal valued at $589 million. After the deal, Yemeksepeti will continue to be run by Yemeksepeti’s CEO and cofounder Nevzat Aydin who joins Delivery Hero as a senior advisor.
In March, Delivery Hero announced its interest in expanding further in the Middle East. “We have looked at many businesses in our industry around the world, but we have rarely seen Key Performance Indicators as exceptional as those displayed by Yemeksepeti: Customer cohorts and reorder rates are among the best in the world and far superior to those shown by our listed peers," Niklas Ostberg, CEO of Delivery Hero said.
Besides Turkey, Yemeksepeti also operates in total of 8 countries including United Arab Emirates, Saudi Arabia, Jordan, Lebanon, Oman, Qatar and Greece.
Last March, Delivery Hero acquired Talabat.com, which operates in Kuwait, Saudi Arabia, United Arab Emirates, Bahrain, Oman, and Qatar.