The consolidation in the instant delivery business continues, as German Flink has acquired its French competitor Cajoo. This way, Flink wants to expand considerably on the French market, with Carrefour as shareholder.
Carrefour on board
Things go very fast in the flash delivery business, and not only the deliveries themselves. After the takeover of Frichti by Gorillas earlier this year, their fellow Germans at Flink now take over French competitor Cajoo. And they are aiming for more: by the end of this quarter, Cajoo’s thirty dark stores ought to be integrated in Flink’s activities. How much they pay for the acquisition, is unknown.
Cajoo was already active in Paris, but now eight more cities will be added throughout the country. The deal also means Flink becomes the exclusive flash delivery company for Carrefour in France. The French supermarket group was an important investor in Cajoo and led a capital round of forty million euros in September last year. It did not only bring both companies together, Carrefour now also becomes a shareholder of Flink.
Previously, Cajoo had already held talks with potential takeover candidates, Sifted knows. Amongst others GoPuff, active in the United States and the United Kingdom, showed interest at the time, but the deal fell through. Today, however, with investors turning away from flashy technology companies and the stock market faltering, it seems that companies are more inclined to agree to proposals.