It’s official Just Eat Takeaway has agreed to acquire Grubhub for $ 7.3 billion. A giant of the food distribution seeking to become even more giant and to penetrate one of the markets where it was not yet present, the American, where Grubhub is precisely one of the big ones.
In an official statement, the company announced the agreement to create one of the world’s largest home catering companies. The biggest outside of China, they say.
The deal involves Just Eat Takeaway paying a total of $ 75.15 for each Grubhub share. The total will be $ 7.3 billion company-wide. It also means that current Grubhub CEO Matt Maloney, along with two other CEOs, will join the Just Eat Takeaway board.
For the time being the deal has yet to be approved by the shareholders of both groups, as well as by regulators and other intermediaries. In any case, they expect the operation to end in early 2021.
Before the acquisition by Just Eat Takeaway one of the most famous candidates has been Uber to combine it with its Uber Eats service. This agreement was not concluded for fear of the regulators and of a possible monopoly which could result from it, the two companies being American and present in the country. Just Eat Takeaway, however, is neither American nor present in the United States.
La consolidation de Just Eat Takeaway
Takeaway’s history dates back to 2000, when the company was founded in the Netherlands. Since then it has gradually entered various European markets, either traditionally or by acquiring other food delivery companies. The last major integration is with Just Eat (hence the name combined now). The UK service was acquired by Takeaway in January this year for $ 7.8 billion in order to establish itself as the food retailing giant in Europe.
Other recent European purchases by Takeaway are 10bis in Belgium, BGmenu in Bulgaria or Liferheld and Foodora in Germany. For its part, Just Eat has also grown over the years, in Spain precisely they obtained La Nevera Roja in 2016. Currently, the group has presence in much of Europe, Australia, Israel, New Zealand, Canada, Mexico and Brazil. Soon also in the United States.
As for Grubhub, is one of the big three in the American market alongside DoorDash and Uber Eats. Grubhub holds around 30% of the US market, while its competitors DoorDash and Uber Eats with 37% and 20% respectively. Exactly one year ago, Grubhub got involved in a particular controversy when setting up websites for its associated restaurants without their knowledge.
Food delivery companies they have become quite successful in recent years, with the promise of eating much cheaper than in restaurants. Even more so now with the global lockdown situation, which has restricted presence in restaurants or has even been banned.
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