Just Eat to sell Grubhub to Wonder Group for $650m
Just Eat Takeaway.Com N.V. (CDI)
1,170.00p
14:54 21/11/24
Just Eat Takeaway said on Wednesday that it has agreed to sell US business Grubhub to Wonder Group for $650m.
Software & Computer Services
2,630.04
15:00 21/11/24
The company had already announced that it was actively exploring the partial or full sale of Grubhub.
Just Eat said the deal increases its ability to support investment in countries in which it has the greatest competitive advantage. It also improves gross transaction value (GTV) growth and free cash flow generation.
Founder and chief executive Jitse Groen said: "The sale of Grubhub to Wonder will increase the cash generation capabilities of Just Eat Takeaway.com and will accelerate our growth.
"This deal delivers the right home for Grubhub and its employees. I would like to thank everyone at Grubhub for their contributions to both Grubhub and the wider Just Eat Takeaway.com business."
Marc Lore, founder and CEO of food hall delivery chain Wonder, said: "Wonder's acquisition of Grubhub continues our mission to make great food more accessible. As we enhance our customer experience with selection, speed, and variety, we're excited to soon offer a curated selection of Grubhub's restaurant partners directly in the Wonder app, alongside our owned and operated restaurants and meal kits.
"Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery."