Grubhub sold to Wonder Group for US$650M

GLOBAL – Amsterdam-based food delivery company Just Eat Takeaway.com has announced it has finalized the sale of its Grubhub business wing to Wonder Group in a deal worth US$650 million.

Grubhub officially came under the ownership of Wonder Group in a significant acquisition deal valued at US$500 million in senior notes.

Following standard adjustments and expenses, the net proceeds for Just Eat Takeaway.com were expected to reach up to US$50 million.

The deal included all assets and the assumption of all material liabilities of Grubhub, with no contingent elements tied to the sale consideration.

Announced in November 2024, this transaction marked a pivotal step in Just Eat Takeaway.com’s strategy to refocus its efforts on markets where it held a stronger competitive edge.

Under Wonder Group’s ownership, the acquisition was positioned to advance the company’s mission of making food more accessible by integrating restaurants, groceries, and meal kits into a single seamless platform.

Post-acquisition, all Wonder locations would become available on Grubhub for third-party delivery. The deal was anticipated to drive growth in gross transaction value (GTV), improve free cash flow, and positively impact the capital structure and liquidity of Just Eat Takeaway.com.

The sale aligned with Just Eat Takeaway.com’s strategic vision of prioritizing investments in markets where it could maintain a clear competitive advantage.

Wonder founder and CEO Marc Lore emphasized that this acquisition would further Wonder’s goal of enhancing food accessibility.

He highlighted plans to integrate a curated selection of Grubhub’s restaurant partners directly into the Wonder app, alongside Wonder’s owned and operated restaurants and meal kits.

Lore described the collaboration as a major step towards building a super app for mealtime, reimagining the landscape of food delivery.

Headquartered in Amsterdam, Just Eat Takeaway.com connected consumers and partners through its extensive platforms. With a network of 731,000 partners, the company offers a diverse range of options spanning restaurants and retail.

In January 2024, Just Eat Takeaway confirmed the closure of its in-house delivery service in Paris, France. Historically, the company employed its couriers in Europe, setting itself apart from competitors like Uber, which relied on self-employed couriers operating within the gig economy.

The decision to halt operations in Paris followed a broader strategic shift in 2022 when Just Eat Takeaway withdrew its in-house delivery services across much of France, citing an unsustainable competitive position in the market.

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