Bulgarian food delivery startup BGmenu has been acquired by Dutch company Takeaway.com for €10.5 million in cash.
BGmenu operates is food delivery service in Bulgaria and Romania, where it runs the Oliviera brand. The acquisition will help Takeaway.com to bolster its business in the region; it already operates in Germany, the Netherlands, Poland, Belgium, and Austria.
“With the acquisition of BGmenu we are adding a fast-growing online food delivery market with a sizeable population to our footprint,” said Jitse Groen, CEO of Takeaway.com, which has raised more than €80 million in VC funding. “It is our intent to execute the same strategy in this country that brought hypergrowth to our Polish business Pyszne.pl.”
The Bulgarian startup was previously backed by Sofia-based seed stage VC firm LAUNCHub Ventures.
“We believe there is a significant market opportunity in Bulgaria and partnering with Takeaway.com gives us the best opportunity to build on our success to date in this country,” said Vladimir Davchev, CEO of BGmenu. “The experience and additional capital from Takeaway.com will enable us to greatly improve our service offering to both consumers and restaurants.”
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