Prosus to acquire Just Eat Takeaway.com for US$4.2B, creating world’s fourth-largest food delivery group

GLOBAL – Global technology firm Prosus has reached a conditional agreement to acquire Just Eat Takeaway.com for €4.1 billion (US$4.2 billion), a strategic move that will position it as the world’s fourth-largest food delivery group.

Prosus has announced that it will acquire all issued and outstanding shares of Just Eat Takeaway.com at a price of €20.30 (US$21.25) per share.

The transaction will be executed as a recommended all-cash public offer on the Amsterdam exchange, underscoring Prosus’s confidence in the strategic value of the deal.

As a seasoned investor and operator in the global food delivery market, Prosus is well positioned to drive growth and unlock the full potential of Just Eat Takeaway.com.

This acquisition is expected to bolster Prosus’s leadership in the European food delivery arena while complementing its established footprint in markets beyond Europe.

Over the years, Prosus has strategically built a diverse portfolio that includes significant stakes in major players such as Germany’s Delivery Hero (28%), China’s Meituan (4%), and India’s Swiggy (25%).

The pursuit of Just Eat has been a long-standing goal for Prosus, which in 2019 even attempted a hostile bid of €6.1 billion (US$6.38 billion) for Just Eat prior to its merger with Dutch competitor Takeaway.com.

Prosus CEO Fabricio Bloisi expressed his enthusiasm about the deal, stating that acquiring Just Eat Takeaway.com represents a significant opportunity to create a European tech champion.

He highlighted that Prosus already boasts an extensive food delivery portfolio outside Europe and has a proven track record of driving profitable growth by investing in customer and driver experiences, strengthening restaurant partnerships, and enhancing logistics through innovation and AI.

Bloisi added that combining Prosus’s technical prowess and investment capabilities with Just Eat Takeaway.com’s leading brand presence in key European markets will generate substantial value for customers, drivers, partners, and shareholders.

Just Eat Takeaway.com’s CEO, Jitse Groen, noted that the company has transformed into a faster-growing, more profitable, and predominantly European-based business.

He emphasized that Prosus’s support will help accelerate investments and growth not only in food delivery but also in adjacent sectors such as groceries and fintech.

This acquisition comes after a challenging period for Just Eat Takeaway.com, which reached a peak valuation of €20 billion (US$20.92 billion) during the COVID-19 pandemic but saw its revenue dip from €5.1 billion (US$5.33 billion) in 2023 to €5 billion (US$5.23 billion) in 2024, alongside a narrowing net loss—from €1.8 billion (US$1.88 billion) to €1.6 billion (US$1.67 billion).

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