Beelivery acquires competitor Pinga to strengthen its London operations
Cheshire-based rapid delivery business Beelivery has acquired a London firm in the latest of a series of major expansions over the past couple of years.
The Congleton group has taken over the Pinga business, with its 600 London-based low-emission drivers and riders, for an undisclosed sum.
Founded in 2015 as the first rapid grocery service in the UK, Beelivery has been providing rapid delivery of essential and emergency groceries to doorsteps, achieving average delivery time of 46 minutes, with 21% of orders delivered in under 25 minutes.
Beelivery connects independent drivers with customers from all over the UK who need last minute groceries or are keen to top up their cupboards.
A nearby driver then personally shops on behalf of the customer and delivers the requested items to their home, on demand, in as little as 15 minutes, 24 hours a day, seven days a week.
Due to a combination of the company’s unique business model, multimillion-pound investment from Greenbank Capital and the current TV and integrated media campaign, Beelivery has grown exponentially over the past two years.
While this kind of growth is to be expected with the recent pandemic, consumers are showing no signs of changing these newly acquired habits and reliance on convenience. Beelivery sales have increased by an enormous 140% with its TV campaign, despite lockdown procedures relaxing.
Beelivery is set to acquire more than 5,000 customers, in addition to the 600 drivers and couriers using sustainable vehicles from the Pinga acquisition.
This will allow it to further extend its already sizable lead in grocery, late night alcohol, and convenience deliveries across London. Beelivery will also look at continuing to offer delivery of Boots the Chemist’s range of products to maintain Pinga’s successful service, adding a broader range of products to Beelivery’s existing 4,000 SKU’s (stock keeping units).
Beelivery’s joint CEO and co-founder, Yazan Bin Mohamed, said: “This acquisition enables Beelivery to leverage the driver capacity and loyal customers of Pinga in central London and extend our lead in this competitive market.
“The company is now exploring further M&A deals, and in particular we are now open towards further strategic alignment with our closest competitors. We are open towards mergers or strategic acquisition in the UK or worldwide while we are raising our £25m round. ”