Stockholm online grocer Mathem acquires delivery startup Kavall
Mathem, a leading online grocer in Sweden, has announced the acquisition of Kavall, a local competitor startup known for its 10-minute grocery delivery service, confirming rumors that had been circulating for weeks.
The announcement, which was made on Thursday, also revealed that the Stockholm-based company acquires 100% of Kavall’s shares for an undisclosed sum.
“We have been impressed by Kavall’s development and what they have managed to build in a short time, and see great potential in their operations in Stockholm,” said Johan Lagercrantz, CEO of Mathem.
“With this deal, we are sharpening our customer offering even more in a growing market. In addition, we bring in owners with extensive knowledge and experience from our industry, which further strengthens Mathem’s position.”
Mathem will take over the operations of Kavall’s Stockholm-based stores that serve Kungsholmen, Vasastan, Norrmalm, Östermalm, and Gärdet as part of the acquisition. These stores will eventually be rebranded as Mathem Express.
“It feels very fun and exciting that Kavall will now become part of Mathem, which with its strong brand and well-established operational activities, provides fantastic conditions for the future,” said Kavall CEO John Tengberg.
“We have both seen the strong demand that exists for fast deliveries and look forward to seeing how we can develop this business successfully together through Mathem Express.”
Through this acquisition, Mathem is consolidating the food delivery market and reinforcing its position in the fast-paced world of e-commerce and grocery delivery.
Mathem itself is best known as a technology-oriented supermarket with a versatile e-commerce platform featuring groceries, kitchen products, home furnishings, pharmacy products, and even prescription medicine. Operating from Stockholm, Gothenburg, and Malmö, the company caters to approximately 55 percent of Swedish households.
In addition to the acquisition, Mathem has also disclosed that it has obtained funding from Kavall’s four biggest owners, namely Bonnier Ventures, Inbox Capital, Nicoya, and VNV Global, for its forthcoming financing round.
The company highlights that the funds will be used to further advance the new automated logistics center in Larsboda, Stockholm, which became operational at the end of the previous year.
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