- Flaschenpost, a 4-year old delivery startup, has been acquired by Dr Oeatker for €1 billion
- The startup that few knew outside its home country delivers beverages in 2 hours or less in 23 German cities.
- It had raised €70M before the acquisition from various investors, including Vorwerk Ventures, the CVC arm of Thermomix’s manufacturer.
- Dr Oetker is said to have paid three times the annual revenue.
Why it matters – DigitalFoodLab’s opinion:
Identified in our last reports on European FoodTech startups, Flashenpost has been growing fast in the past couple of years. This deal underlines one key strength of the German ecosystem: growing and accelerating local and successful startups without the hype and fame seen in many other ecosystems.
More importantly than the acquired startup is the acquirer. Dr Oetker is a global CPG company mostly known for its frozen pizza. It also owns many breweries, wines, and spirits. As for the investment of Coca-Cola European Partners in the French alcohol delivery startup Kol, this deal shows the growing interest of leading corporations to reach consumers outside retail.