Gorillas partners with Spin&Co in Denmark

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Copenhagen, August 9, 2022 - As we announced on May 24th, we have decided to sharpen our focus and continue to grow in the key markets of Germany, France, UK, the Netherlands, and the US (New York City). The vast majority of our revenues (90%) comes from these markets.

In the case of our presence in the Danish market, after carefully evaluating the different strategic options, we have decided to partner with Rasmus Hjorth Sindberg and his investment group Spin&Co. Rasmus is a serial entrepreneur and investor with in-depth knowledge of the Nordic region. The signed agreement between the parties entered into force on August 8, 2022.

Thanks to a licensing agreement, the Danish business will continue to operate under the Gorillas brand and keep using its product and technology platform. Gorillas will remain a shareholder and strategic partner in the business. The immediate focus will be in the city of Copenhagen, where operations will continue striving to offer Gorillas’ customers an even better shopping experience.

“After many weeks of evaluating multiple strategic options for the Gorillas brand in Denmark, we are delighted to form a partnership with true local entrepreneurs to unleash the potential of Gorillas: Together we are starting a new chapter of the Gorillas journey in this region. We are convinced that this agreement puts us in a stronger position as we redouble our efforts to become a profitable and even more customer centric company.” - Elmar Broscheit, CFO Gorillas.

“Kagan Sumer and the entire Gorillas team built a remarkable business in record time. Ann-Sophie Adamsen, the crew and riders in Copenhagen have achieved blistering growth in just one year. Now it’s time to refine and expand with maximum efficiency. We’re bringing in expert resources and entrepreneurial firepower to amplify Gorillas’ original vision. I look forward to this venture!” - Rasmus Hjorth Sindberg.

“After a successful first year, I am thrilled to continue the journey with our new partners - still as an integrated part of Gorillas in a global context. I would like to thank our supportive community as well as our committed team in Copenhagen which helped us tremendously over the past few months. I couldn’t be happier with our outset for the future!” - Ann-Sophie Adamsen, General Manager, Gorillas Denmark.

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