Delivery Hero to acquire a 7.5% stake in Glovo from AmRest for €76.1.

Delivery Hero, a German delivery giant, agreed to acquire a 7.5% stake in Glovo, a Spanish delivery firm, from AmRest, a listed hospitality firm, for €76.1 ($89m). The departure of the catering group occurs in a key consolidation scenario for the food delivery sector, where most companies struggle to achieve profitability. Within this process, Glovo last September closed an agreement to sell its Latin American operations to Delivery Hero, one of the giants in the delivery sector worldwide, for more than €230m.