Wonderful news for Just Eat Takeaway: the meal platform is finally able to sell its American branch Grubhub, which has been a source of concern for Just Eat Takeaway for years. Buyer is food delivery rival Wonder.
“Super app” for meals
Wonder Group will pay just 650 million dollars (610 million euros) for the American platform, of which Just Eat Takeaway is expected to net a maximum of 50 million dollars. Nevertheless, the takeover is a great relief: investors have been pushing for it for years, as the meal platform never really got a foothold in the American market.
It is therefore striking that an interested party has suddenly emerged. Wonder CEO Marc Lore sees the acquisition as a step towards creating a “super app” for meals. Last year, Wonder also acquired meal kit supplier Blue Apron.
Just Eat Takeaway believes that the sale will improve cash generation and accelerate growth. The transaction will finally allow the company to fully concentrate on markets where it has a stronger competitive position. The sale will not impact the 2024 full-year guidance, as completion is expected in the first quarter of 2025.
