Chilivery, Reyhoon Sign M&A Deal

EghtesadOnline: Two major Iranian food delivery companies, Chilivery and Reyhoon, have recently signed a merger and acquisition deal.

News ID: ۷۸۵۱۸۰

28 December 2019

The new company will offer services under the brand name Chilivery. The M&A agreement is hoped to give Chilivery a competitive edge against Snapp Food, the dominant player in the Iranian market.

Chilivery is a subsidiary of Iranian Modern Business Company. Working with 4,000 restaurants, Chilivery is active in 30 cities, Peivast news website reports.

Chilivery’s CEO Alireza Sadeghian says the company is set to offer a wider range of goods in the near future, including groceries, pastry and flowers, according to Financial Tribune.

In mid-December and following marathon talks, Takhfifan and NetBarg, two other major Iranian e-commerce platforms, also signed a merger and acquisition deal. Both startups offer products and services at significantly reduced prices. This deal was hammered out by Iranian equity firm Sarava Pars.

Sadeghinia, who also heads NetBarg, said a press conference will be held to publish further details about the deal.

According to Takhfifan CEO Nazanin Daneshvar, “There were ongoing negotiations between the two companies over the past three years [because] there were numerous sticking points, including the companies’ valuation and legal complexities.”

Reportedly, the new company will operate under Sarava that has invested in numerous Iranian startups, including Digikala and Cafe Bazaar.