Getir Pulls Out of U.S., European Markets

Following reports of a possible restructuring, ultrafast grocery delivery company Getir has confirmed that it is ending operations in both the United States and Europe. According to the company, it instead plans to bolster operations in its home market of Turkey, and has secured new financing from Mubadala and G Squared to do so.

"Getir will focus on Turkey, its main market where it sees the greatest potential for long-term sustainable growth," Getir said in a statement.

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Founded in Turkey in 2015, Getir's mission is to deliver groceries within 10-15 minutes and at one point operated across five countries. As of April 15, the company was in talks with investors on how to move the business forward in a challenging environment. 

Getir acquired FreshDirect from Ahold Delhaize in December 2023 but, before that, exited markets in Italy, Portugal and Spain, and also cut its workforce by 10% last fall. In January, the company announced the hiring of Hatice Evren as U.S. Group CEO for Getir and FreshDirect and Sloan Eddleston as CEO of FreshDirect. 

As the U.S. subsidiary of Getir, FreshDirect will continue its operations, a spokesperson for the company confirmed. "We are committed to guaranteeing a seamless and uninterrupted process, maintaining the exceptional service our customers have grown accustomed to," the spokesperson stated.

At a peak two years ago, Getir was valued by investors at nearly $12 billion.