FRANKFURT (Reuters) - Turkish grocery delivery company Getir is close to withdrawing from Germany almost a year and a half after it bought rival Gorillas, German media reported on Wednesday.
Its businesses in other European markets will also be discontinued in mid-May, Wirtschaftswoche reported, as the company concentrates on the Turkish domestic market.
Getir declined to comment.
Business Insider also reported that major shareholder Mubadala had lost patience with management for failing to come up with a viable business model and for not merging Getir and Gorillas in Germany into one brand to save costs.
Getir bought Gorillas in a deal worth $1.2 billion in Dec. 2022.
(Reporting by Hakan Ersen and Ebru Tuncay; Writing by Madeline Chambers; Editing by Rachel More)
