13. August 2013–
UPDATE One online food ordering platform in Brazil acquires another but this is, in fact, a European deal. HelloFood, part of German group Rocket Internet’s portfolio, will acquire Jánamesa, backed by Mountain do Brasil, Bolt Ventures and Otto Capital Partner.
The terms of the deal, including whether any cash changed hands, were not disclosed. It follows acquisitions by HelloFood’s sister brand Foodpanda in Hungary and Singapore. Together, the company is now active in 27 countries.
The deal will apparently double HelloFood’s user base in Brazil. Jánamesa at the time of acquisition had over 600 partner restaurants, compared to iFood, one of a handful of market leaders, which claims to with over 1000 restaurants in Brazil.
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Rocket Internet’s aggressive global expansion, now spanning about 50 ventures in about 60 countries, attracts both fans and critics – those who applaud its successful expansion, those opposed to its company culture and “corporatisation of entrepreneurship”, and occasionally those who hold both views simultaneously.
So far, Rocket Internet hasn’t made many local acquisitions. While Jánamesa operates in Brazil, its holding company is Swiss and it launched in partnership with Germany company Lieferando. All three of the company’s investors have strong connections to Europe: Mountain do Brasil is part of the Switzerland-based Mountain Partners group and Bolt Ventures is headquartered in Luxembourg. Otto Capital Partner is understood to be a family-owned early-stage VC and private equity firm linked to the Otto Group.
Article updated 11.20 CET 13 August 2013 to correct a mention to one of Jánamesa’s competitors
Image credit: Flickr user Thomas