SEOUL, Dec. 19 (Korea Bizwire) — Germany-based online delivery service provider Delivery Hero is forecast to take control of South Korea’s food delivery app market following its proposed megadeal to buy the country’s top food delivery app operator, Woowa Brothers Corp., industry data showed Thursday.
On Friday, Delivery Hero announced that it will acquire an 87 percent stake in Woowa Brothers, the operator of delivery app Baedal Minjok, or Baemin, from existing investors such as Goldman Sachs and Singaporean fund GIC.
The German firm also currently operates second-biggest delivery player Yogiyo and Baedaltong under its wing.
The combined users of Baemin, Yogiyo and Baedaltong accounted for 98.7 percent of all users of food delivery-related apps, according to the data by mobile big data platform IGAWorks.
The five most-used food delivery apps in the country, excluding Coupang Eats operated by e-commerce giant Coupang Inc., are all under Delivery Hero, it said.
Delivery Hero, with a head office in Berlin, offers food delivery services in more than 400 cities globally, with nearly 22,000 employees.