Report: Delivery Startup GoPuff In Talks To Buy BevMoNovember 5, 2020
West Coast retailer BevMo is in talks to be acquired by delivery startup GoPuff for approximately $350 million, Bloomberg reports. BevMo has about 160 locations across California, Washington, and Arizona. It was acquired by Towerbrook Capital Partners in 2007.
According to the report, an all-cash deal could be announced as soon as today. A purchase of BevMo would give GoPuff entry into the California market and boost its scale as it competes with other delivery operators like Amazon, DoorDash, Postmates, and Instacart.
Philadelphia-based GoPuff was founded in 2013 and has the backing of SoftBank Vision Fund among other investment groups. The company delivers everything from food and drink to cleaning supplies, home needs, and over the counter medications for a flat $1.95 fee.
The report comes as e-commerce booms across the U.S. drinks industry, a development that has only accelerated this year amid the pandemic. GoPuff currently delivers alcohol in select markets across the U.S.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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