Update: GoPuff Confirms $350 Million Acquisition Of BevMoNovember 6, 2020
Yesterday afternoon news emerged that delivery startup GoPuff, recently valued at $3.9 billion, was eyeing a $350 million acquisition of West Coast retailer BevMo. Later in the day GoPuff formally announced the purchase, which gives the company a presence in California and dramatically ups its profile in the booming beverage alcohol e-commerce sector.
Founded by Drexel University college students Rafael Ilishayev and Yakir Gola in 2013, GoPuff is headquartered in Philadelphia and currently operates more than 200 micro-fulfillment centers servicing over 500 U.S. cities. It offers 24/7 delivery of everything from food and drink to cleaning supplies, home needs, and over the counter medications—as well as alcohol in select markets—for a flat $1.95 fee.
GoPuff says the acquisition will see BevMo customers gain “access to instant delivery of alcoholic beverages as well as everyday items across GoPuff’s rapidly expanding product inventory.” BevMo has 161 brick-and-mortar stores across California, Washington, and Oregon, and was previously backed by Towerbrook Capital Partners.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.