Ongoing financial problems
Delivery service Flink is about to be taken over by competitors
March 20, 2024, 8:52 p.m
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Fast delivery services have so far been pure money-burning machines – such companies usually do not make a profit. And now the market is clearing up further: After Gorillas, Turkish competitor Getir also wants to swallow Flink.
The Berlin express delivery service Flink is apparently on the verge of being swallowed up by its Turkish competitor Getir. This is what “Manager Magazin” reports. It is said that the negotiations are already well advanced.
According to the report, a Flink spokesman confirmed that there was a financing offer for the delivery service as well as “several attractive purchase offers from delivery services”. But among investors, a deal with Getir is seen as the most likely option. The company itself does not comment on this.
Getir founder Nazim Salur had already taken over another fast delivery service, Gorillas, in December 2022, which was previously considered Flink’s biggest competitor. Since then, however, Flink has dominated business in this area in Germany. Its market share is estimated at over 80 percent. Last year, the company is said to have made a total of 560 million euros in sales in Europe – without making a profit.
In the event of a takeover, Getir would achieve a monopoly-like position in the market sector in Germany – provided the cartel office approves the merger. “I cannot make a prediction in advance about how such an audit would turn out,” a spokesman for the Cartel Office told the “Tagesspiegel”. Flink already had enormous financial problems last year. Here, too, Getir boss Salur was already interested in a takeover. Instead, Flink was able to raise the necessary 150 million euros in a financing round – including a financial injection from shareholder Rewe.