Just Eat Takeaway, a leading delivery service provider in Europe, has announced an agreement to sell the business operations of Grubhub, a delivery service in America, which was acquired by Wonder Group in 2020 for $650 million. The transaction is expected to be completed in the first quarter of 2025.
The sale of Grubhub’s business operations for a mere $7.3 billion is a significant decrease of up to 91% from the price at which Just Eat Takeaway purchased it just four years ago. Wonder, the acquiring entity of Grubhub’s operations, is a startup that ventured into the delivery service industry in 2018 with a vision to create a super app for food delivery. They recently acquired the meal kit delivery startup Blue Apron last year.
Marc Lore, CEO of Wonder, stated that the acquisition of Grubhub will position Wonder as a super app in the delivery service industry. On the other hand, Just Eat Takeaway believes that selling off Grubhub’s business operations will boost the company’s cash flow.
Source: Just Eat Takeaway
TLDR: Just Eat Takeaway to sell Grubhub business operations to Wonder Group for $650 million, a significant decrease from the purchase price, as part of a strategic move to enhance their delivery services.
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