The European Commission has launched a formal investigation into whether Delivery Hero and its subsidiary Glovo violated competition rules by participating in a cartel in the supply of everyday goods in the European Economic Area (EEA).
According to a statement from the community leader, Delivery Hero and Glovo, the two largest food delivery companies in Europe, took control of the latter in July 2022, in which they already had a minority stake.
The Commission is concerned that, prior to the acquisition, the two companies in the online food ordering and delivery sector may have allocated geographic markets and shared commercially sensitive information (e.g. commercial strategies, prices, capacities, costs, product characteristics).
The commission is also concerned that the companies may have agreed not to hire each other’s workers, which could be facilitated by Delivery Hero’s minority stake in Glovo.
Headquartered in Germany, Delivero Hero is listed on the Frankfurt Stock Exchange, has a presence in over 70 countries and maintains partnerships with over 500,000 restaurants.
Glovo, based in Spain, is present in 25 countries, including Portugal.