News & Analysis

driven by the PitchBook Platform
Food & Beverage

The Oetker Group to acquire drink delivery startup Flaschenpost

The German food giant has agreed to pay €1 billion for beverage delivery startup Flaschenpost, which has seen its business grow during the pandemic.

The acquisition will expand Oetker's current delivery service.
(Courtesy of Flaschenpost)

The Oetker Group has agreed to buy German drinks delivery startup Flaschenpost. The German food giant will pay €1 billion (around $1.16 billion) for the company, according to Deutsche Startups. The deal will provide an exit for investors including Tiger Global, Cherry Ventures and Vorwerk Ventures, who have poured €70 million in total into the business since its launch in 2016, according to PitchBook data.

The acquisition will bring another beverage delivery service into Oetker’s beer and nonalcoholic beverages unit, Radeberger Group, which also operates Durstexpress. Flaschenpost is active in 23 German cities, recording over 2 million orders a year via its app. It promises delivery within two hours without a fee and reportedly generated sales of €27 million in October.

The pandemic and subsequent stay-at-home orders have driven strong demand for delivery services, prompting more consolidation in the sector. Last week, Nestlé acquired meal delivery startup Freshly in a deal valuing it at $950 million. Over the summer, Just Eat Takeaway took over Grubhub for $7.3 billion, and Uber announced an agreement to buy Postmates for around $2.7 billion.

  • leah-hodgson-photo.jpg
    Written by Leah Hodgson
    Leah Hodgson is a London-based senior reporter for PitchBook covering venture capital across Europe and the Middle East. Leah graduated from the University of Surrey with a BA in international politics with French. She has previously been a radio reporter in France. She later turned to financial journalism, covering the wealth management industry. She joined PitchBook in 2018.
Join the more than 1.5 million industry professionals who get our daily newsletter!