goPuff Inks Agreement to Acquire BevMo
Los Angeles and New York – November 9, 2020 – Cooley advised goPuff, the go-to platform for consumers’ everyday needs, on its agreement to acquire alcoholic beverage specialty retailer BevMo for $350 million. Cooley partners Tom Hopkins, Kevin Cooper and Matt Hallinan led the team advising goPuff on the transaction, which is expected to close in the next month.
The acquisition significantly accelerates goPuff’s entry into California and will provide millions of new customers in BevMo’s network of neighborhood stores with access to immediate delivery of everyday items, including baby and pet products, cleaning supplies and food and alcohol, along with local favorites.
“We’re proud to bring goPuff’s operations to California and look forward to investing in talent and real estate across the state,” goPuff co-founder and co-CEO Rafael Ilishayev said in a news release. “Partnering with BevMo quickly advances our strategic objectives of providing more customers in new geographies with a seamless solution for their instant needs. Through this acquisition, goPuff will operate coast to coast, solidifying our presence as a leading, national consumer business.”
“BevMo has an extremely loyal customer base and a deep infrastructure across three states,” added goPuff co-founder and co-CEO Yakir Gola. “Bringing its iconic brand, locations and employees together with goPuff’s tech-driven, vertically integrated operating model positions us for unparalleled opportunity. We’re thrilled to welcome BevMo employees to the goPuff team and look forward to building relationships with these new local communities.”
BevMo’s footprint of 161 neighborhood stores located throughout California, Arizona and Washington provides extensive infrastructure for goPuff to seamlessly integrate into its network of local micro-fulfillment centers, enabling it to reach customers across the West Coast in 30 minutes or less.
Founded in 2013, Philadelphia-headquartered goPuff operates more than 200 micro-fulfillment centers servicing 500+ US cities and is the go-to solution for immediate everyday needs. With micro-fulfillment centers in every market it serves, the company delivers thousands of products quickly and is open 24/7 in many markets and late night everywhere else to bring customers what they need, when they need it most.
Read the full press release from goPuff
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