Packaged food producer Dr Oetker has paid €1bn ($1.16bn) for Germany-based drink delivery service Flaschenpost in a transaction that will allow cleaning product distributor Vorwerk to exit, Deutsche Startups reported on Sunday.
Founded in 2016, Flaschenpost runs an online service that allows users to order beverages that are available for delivery in under two hours to customers across 23 German cities.
Home delivery services have experienced a significant uptick in business during the coronavirus pandemic, and Flaschenpost’s sales last month alone totalled €27m. About 15% of its revenue comes from sales of its own water and beer brands.
Family office Sociedade Francisco Manuel Dos Santos led a $24.2m round for the company in April 2018 that included Vorwerk’s corporate venturing arm, Vorwerk Ventures, as well as venture capital firm Cherry Ventures.
Investment firm Tiger Global Management supplied a further $56.7m in funding for Flaschenpost in March 2019. Its other backers include GR Capital and Saarbruecker 21.
