Just Eat gets green light for Spanish acquisition

Online takeaway food delivery group Just Eat has received clearance from Spanish regulators to complete its acquisition of La Nevera Roja from Rocket Internet.

The purchase, which was one of four overseas deals totalling €125m (£99.5m) announced in February, is expected to be completed in the coming days.

With the addition of La Nevera Roja, which translates as 'the red fridge', to the FTSE 250 company's existing Spanish businesses, expanding the customer base for takeaway restaurants and restaurant choice for consumers, Just East said it was by some distance the market leader in Spain.

Management expect the extra scale will generate "meaningfully higher" and sustainable profit margins.

Chief executive David Buttress said the acquisitions in Italy, Mexico and Brazil, which all completed in February were integrating as planned.

"This acquisition, along with the acquisitions in Italy, Mexico and Brazil consolidate our market leadership in a number of geographies where the digital marketplace for takeaway food delivery is growing strongly.

"We look forward to using our increased volume and scale to drive value for our shareholders and restaurant partners, as well as improving the takeaway experience for consumers."