Dutch meal delivery company Just Eat Takeaway has reached agreement to take over its American peer Grubhub to create what it says is ‘the largest online food delivery company outside China’.
The all share deal is worth $7.3bn, and according to website TechCrunch, ‘represents a major competitive swipe, since Uber Eats had also been trying to acquire the US company’.
Just Eat Takeaway said in a statement that the combined operation — which processed 593 million orders in 2019 — will have over 70 million active customers worldwide.
‘[GrubHub founder] Matt [Maloney] and I are the two remaining food delivery veterans in the sector, having started our respective businesses at the turn of the century, albeit on two different continents, Takeaway founder Jitse Groen said.
‘Both of us have a firm belief that only businesses with high-quality and profitable growth will sustain in our sector.’
Maloney will continue to lead the US operations and join the Just Eat Takeaway board.
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