GoPuff is undertaking a significant acquisition shortly after announcing a funding round of $380 million, which established the Philadelphia-based delivery service’s valuation at $3.9 billion.

Katie Roof of Bloomberg reported earlier today that goPuff was in discussions to purchase the alcoholic beverage retailer BevMo, and goPuff has now released a statement confirming a definitive agreement to acquire the company for $350 million.

According to co-founder and co-CEO Yakir Gola, the company specializes in the rapid delivery – within 30 minutes or less – of products commonly found in convenience stores, including items like over-the-counter medications, infant formula, and alcoholic beverages, with service available 24/7.

Despite operating in over 500 cities across the U.S. and receiving investment from firms such as Accel and SoftBank Vision Fund, goPuff hadn’t garnered substantial media coverage until recently. This began to shift with the recent funding round – bringing the total raised to $1.35 billion – and goPuff is now generating even greater attention through the acquisition of a well-known retail brand.

This acquisition of BevMo, which maintains 161 locations across California, Arizona, and Washington, is anticipated to expedite the company’s expansion plans within California.

Specifically, goPuff will be able to market its delivery services to BevMo’s existing customer base who frequent physical stores. The company also intends to incorporate select BevMo locations into its network of micro-fulfillment centers, all while maintaining the current in-store customer experience.

“We are excited to extend goPuff’s operations to California and are committed to investing in both personnel and property throughout the state,” stated goPuff co-founder and co-CEO Rafael Ilishayev. “This partnership with BevMo! will swiftly advance our goals of providing a convenient solution for immediate needs to a wider customer base in new areas. This acquisition will enable goPuff to operate nationwide, reinforcing our position as a prominent national consumer company.”

A statement was also included from BevMo CEO Josiah Knutsen.

“Aligning with goPuff, a company that has pioneered a unique approach and established itself as a leader in the instant needs sector, will allow us to better serve our customers’ changing requirements, including the delivery of everyday necessities directly to their homes,” Knutsen said. “We are eager to introduce goPuff to California and collaborate to further improve the experience for BevMo! customers and the communities we serve.”

The transaction is projected to be finalized within 30 days. BevMo was formerly owned by the private equity firm Towerbrook Capital Partners.