Business 16 July 2026

Glovo Portugal is getting a new owner — sold to a US fund as part of the Uber-Delivery Hero deal

Glovo's Portugal operation is one of 14 businesses Delivery Hero is selling to SSW Partners for about 1.4 billion euros, as Uber moves to buy the German delivery giant for 12.9 billion.

The yellow backpack weaving through Portuguese streets is getting new bosses. Glovo’s Portugal operation has been bundled into a package of 14 businesses that Delivery Hero, the brand’s owner, is selling to US fund SSW Partners — a side piece, but a meaningful one, in the chess game that sees Uber buying the German delivery giant.

Who bought Glovo in Portugal?

SSW Partners, a New York investment fund, which will pay roughly 1.4 billion euros for operations in 14 markets — among them Glovo in Portugal, Spain, Poland, Romania and Moldova, Foodora across four Nordic and Central European countries, Efood in Greece and Yemeksepeti in Turkey. The sale only happens if the main event goes through: Uber has offered 41.50 euros per share for Delivery Hero, valuing the Berlin group at about 12.9 billion euros.

Why isn’t Uber keeping Glovo?

Competition, mostly. Uber already runs Uber Eats in Portugal and Spain, and owning Glovo in the same markets would create overlaps regulators would struggle to wave through. Uber already held 36% of Delivery Hero and will now take control of the group — but the 14 businesses sold to SSW go their separate way, with the fund promising to find “strategic partners” for each. The offer details are in Delivery Hero’s newsroom.

What changes for people ordering dinner — or delivering it?

For now, nothing: the app keeps working, couriers keep getting paid by Glovo, restaurants keep their contracts. Medium term, the owner changes, and ownership changes in this sector tend to bring reviews of commissions and conditions. In a year when Portuguese companies are posting stronger profits, food delivery remains one of the most contested markets around — now with a new player at the table.

Whether the backpack changes colour remains to be seen. For thousands of couriers and restaurants, what matters is that nothing else does.

By Beatriz Mota

Image: FaceMePLS from The Hague, The Netherlands / Wikimedia Commons (CC BY 2.0)

Business 16 July 2026

Markets tracker: gold, the Fed, oil and stocks

Our running tracker of the markets that move savings in Portugal — gold, Fed and ECB decisions, oil and stocks. Updated whenever there is news.

This is our running tracker of the markets that move savings in Portugal. Instead of a fresh article for every swing, we update this page whenever something matters: gold, Federal Reserve and European Central Bank decisions, oil and the main stock indices. For the background on the Portuguese economy, see our mid-year review. Official data is at the Bank of Portugal.

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