The German Flink, a specialist in fast grocery delivery, announced on Monday the takeover of its French competitor Cajoo, partially owned by the Carrefour group, accelerating the consolidation of this market which has been in full expansion since the Covid-19 pandemic.
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"Flink SE (...) announces the acquisition of Cajoo, a pioneer of
"quick commerce"
in France, in order to accelerate its expansion in the French market and consolidate its leading position in Europe"
, indicated the company in a statement.
No amount for the transaction was disclosed.
The Carrefour distributor, which had held a minority stake in Cajoo since last year, will become
“the exclusive partner of Flink on the French market and a direct shareholder of the company
”, specifies the Berlin start-up.
400,000 users in France for Cajoo
"We are able to take part in the consolidation of the market and to forge a valuable strategic partnership with Flink",
commented Élodie Perthuisot, E-commerce director for Carrefour, in a press release.
Flink, founded in 2021 in Germany, is a leading player in the super-fast grocery delivery market.
The company, valued at nearly 2.1 billion euros, has been present in 90 European cities, notably in Germany, the Netherlands, Austria, and France since May 2021. The acquisition of Cajoo will enable it to strengthen its presence in the country, with the company operating in about ten cities, with a total of
“400,000 users”
claimed.
"We are bought by the company which is experiencing the strongest growth on the European market"
, justified Henri Capoul, CEO of Cajoo.
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This operation accelerates the consolidation underway in this booming sector since the coronavirus pandemic and the various confinements which have increased the need for food deliveries.
In March, the German Gorillas, Flink's main competitor in Europe, announced its acquisition of another French company, the meal delivery company Frichti.
The sector is however criticized because of the working conditions of its bicycle delivery men, and the multiplication of "dark stores", warehouses which are multiplying in large cities to the detriment of traditional businesses.
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