Appetito acquires Lamma to expand operations in Maghreb & West Africa
Category: #business  By Pankaj Singh   Date: 2022-06-02
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Appetito acquires Lamma to expand operations in Maghreb & West Africa

Appetito, an Egyptian grocery delivery startup, is reportedly acquiring Tunisia's q-commerce platform Lamma with an aim to extend its operations in Tunisia, Morocco, and West Africa and become Africa's major e-grocery and quick commerce player.

For those unversed, Appetito delivers thousands of household and grocery products via its mobile app to consumers from dark stores across three cities in Egypt. Likewise, Lamma has established a similar business of Q-commerce in Tunisia and Morocco.

Lamma was co-established by Yassir El Ismaili El Idrissi, entrepreneur and ex-GM at Careem, in 2021. Yassir is expected to be joining the firm as a Chief Expansion & Growth Officer.

Both the founders have agreed to create a single article, which will be operating as "Appetito". The deal is anticipated to be locked by the end of the 3rd quarter of 2022.

Shehab Mokhtar, Appetito's Chief Executive Officer, said that the firm is pleased to welcome supreme talent and compatible entrepreneurs to the family. It strongly believes that this is the best time to expand in the African region to solve massive in-efficiencies in the retail supply chain.

With Lamma, the firm will potentially be on track for becoming the major q-commerce player in the continent, revolutionizing the life of millions of people and building thousands of direct & indirect jobs, added Shehab.

While commenting on the move, Yassir El Ismaili El Idrissi said that Lamma and Appetito are an ideal match. Both the firms share a common goal, and business and operating models. But the point that trumps all is that both the firms share the same values. He added that from the 3 countries, the firm now has an eccentric platform for expanding into new African markets.

Source Credit - https://www.zawya.com/en/press-release/companies-news/egypts-appetito-acquires-lamma-and-expands-into-maghreb-and-west-africa-ibat9t8k

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