[ad_1]
Netherlands-based Just Eat Takeaway announced today that it is selling Grubhub to Wonder in a deal valued at $650 million. The company said it expects to complete the deal by the first quarter of 2025.
“The sale of Grubhub to Wonder will increase the cash generating capabilities of Just Eat Takeaway.com and accelerate our growth. This transaction provides the right home for Grubhub and its employees. I would like to thank everyone at Grubhub,” Gates Gruen, founder of Just Eat Takeaway, said in a statement. For their contributions to both Grubhub and the broader Just Eat Takeaway.com business.”
Just Eat Takeaway Company It acquired Grubhub in 2020 through… A deal worth $7.3 billion. At the time, Uber also reportedly sought to acquire Grubhub.
The company added that this sale will allow it to invest in countries where it has a competitive advantage and generate free cash flow. Just Eat Takeaway added that the deal is good for its capital structure and liquidity position.
Wonder’s CEO Marc Lore said the company aims to create a food delivery super app with this acquisition.
“Wonder’s acquisition of Grubhub continues our mission of making great food accessible to everyone. As we work to enhance our customers’ experience through choice, speed and variety, we’re excited to soon offer a selection of Grubhub’s restaurant partners directly in the Wonder app, along with owned and operated restaurants and meal kits.” Our.Bringing Wonder and Grubhub together is the next step in our vision to create the ultimate mealtime app, reimagining the future of food delivery.
Wonder has raised more than $1.7 billion in funding, according to Crunchbase, with backers such as Accel, Bain Capital Ventures, Google Ventures, Nestle and ForerunnerVentures.
The story develops…
[ad_2]