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April 21, 2022

Just Eat Takeaway.com considers sale of Grubhub

The company acquired Grubhub last June for an enterprise value of $7.3bn.

Dutch multinational online food ordering and delivery company Just Eat Takeaway.com is exploring options to sell its US food delivery venture, Grubhub.

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The announcement was made by the company during its 2022 Q1 trading update.

In the update, Just Eat Takeaway.com said: “The Management Board confirms its alignment with shareholders in wanting to both create and realise value from the Company’s highly attractive portfolio of assets.

“As such, management is currently, together with its advisers, actively exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub.

“There can be no certainty that any such strategic actions will be agreed or what the timing of such agreements will be. Further announcements will be made as and when appropriate.”

Some Just Eat Takeaway.com stakeholders are said to have expressed their willingness to sell the Grubhub division.

Last June, Just Eat Takeaway.com acquired Grubhub for an enterprise value of $7.3bn.  

According to the terms of the deal, Just Eat Takeaway.com acquired 100% of the shares of Grubhub in an all-share combination.

The deal allowed the enlarged group to operate in the US, Netherlands, Germany and the UK, which are considered to be the most attractive markets for the online food delivery industry.

However, the Dutch company is said to have been under pressure from activist investor Cat Rock Capital to sell the division, as the latter claims that the new division has reduced the company’s value.

Just Eat delisted the shares of Grubhub in February, Reuters reported.

Free Report
img

Meet emerging digital demand in the foodservice industry

Global digital pressures are making waves across sectors. The foodservice industry is seeing particular impact as consumers change the way they operate. It is therefore essential to know how to navigate the challenges that digital is presenting to the industry and its consumers. GlobalData’s free report explores the market outlook for the global foodservice industry, with insights into how foodservice operators, brands, and their suppliers can meet changing demands. Key features in this report include:
  • An overview of dine-in, takeaway, and delivery forecasts up to 2026
  • Areas foodservice industry players should be focusing on for digital investment
  • Consumer insight into attitudes towards digital convenience
  • Challenges facing foodservice, in terms of investment and logical considerations
  • Key examples of top industry players
Adapt and stay on top. Download our free report now.
by GlobalData
Enter your details here to receive your free Report.

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