AmRest will invest €25 mln in Spanish Glovo

Restaurant operator AmRest signed an agreement to buy a 10-percent stake in the Spanish digital food delivery platform Glovo for €25 million. Under the agreement, AmRest will acquire a tranche of newly issued shares in Glovo and a part of existing shares. Glovo application has over one million users and operates in 21 Spanish cities. Overall, the company is present in 17 countries all over the world. AmRest sees the partnership as a chance to reinforce its position in the aggregator and delivery segment.