Global logistics giant Uber announced on Monday an agreement to acquire the delivery portfolio of Turkish company Getir in Türkiye from Mubadala, including food, grocery, retail and water delivery.
The deal comes after Uber purchased the majority of the stake in another popular delivery service firm – Trendyol Go – in Türkiye last year.
Terms of the deal were not disclosed, and it is subject to regulatory approval and other closing conditions.
"This deal represents another milestone in Uber’s continued investment in Türkiye, bringing together Getir and Trendyol Go delivery into the Uber family and further reinforcing Uber’s commitment to Türkiye," the company said in a statement.
Following the closing of the deal, Uber plans to combine the unique strengths of Getir and Trendyol Go, increasing selection for consumers, supporting more delivery opportunities for couriers, and driving increased demand to restaurants and retailers across Türkiye, it said.
"Getir consumers will continue to access delivery services through the Getir Super App, but with the benefit of more restaurants from Trendyol Go. Additionally, Trendyol Go customers will be able to access Getir’s grocery offerings directly through the Trendyol Go app," the statement noted.
Late last year, Uber also announced it would establish a software and technology development center in Türkiye, with plans to invest $200 million over the next five years.
"With a thriving digital economy and a dynamic consumer base, Uber is committed to investing in Türkiye for the long term,” said Dara Khosrowshahi, CEO of Uber.
"By bringing together these leading platforms, we aim to support the continued growth of a vibrant and competitive ecosystem, that delivers even more value for consumers, couriers, and merchants.’’
"Mubadala has been a committed partner to Getir, supporting the company and building a leading food and on-demand delivery platform in Türkiye,” said Waleed Al Mokarrab Al Muhairi, Deputy Group CEO at Mubadala Investment Company.
"This transaction reflects the strength of the business and the progress it has made, particularly over the last year. Türkiye remains a highly attractive market for Mubadala, and we continue to evaluate long-term investment opportunities in the country.”
"This agreement is a significant milestone for Getir and is a testament to the strong operating model and leading brand our team has built in our home market of Türkiye,” said Batuhan Gültakan, CEO of Getir.
"We are excited to bring Getir’s pioneering ultrafast delivery expertise to Uber’s global ecosystem, as we continue to enhance the experience for consumers, couriers, restaurants, and retailers. We are proud of what we have achieved with the support of Mubadala and look forward to the next chapter of growth as part of the Uber family.”
Getir is seen as a pioneer in the sector and was launched in Istanbul in 2015, with a promise of delivering groceries within minutes.
It expanded rapidly during the COVID-19 pandemic, with a push in the major markets in Western Europe and the U.S., and was valued at $12 billion in 2022 following an investment round in which Mubadala took part. However, it scaled back operations as demand for online services began to wane after the pandemic.
Mubadala took control of Getir assets last year.