Special purpose acquisition company Landcadia Holdings has signed a definitive merger agreement to acquire US-based restaurant platform Waitr for $308m.
As part of the agreement, Waitr will become a wholly-owned subsidiary of Landcadia by merging its business.
Waitr is a restaurant platform for online food ordering and delivery in the US and has partnerships with local independent restaurants as well as regional and national chains in the country.
The investment will enable Waitr to grow its business in current and new markets as well as make acquisitions to grow its US footprint.
Following the completion of the transaction, Tilman Fertitta will serve as the director of the combined entity, overseeing its growth and brand building.
Fertitta said: “This transaction with Waitr provides an incredible opportunity for the combined company to be the next leader in the fast growing online food delivery market.
“Our experience with Waitr as a partner combines best in class on-demand food delivery for diners and a true partnership for restaurants.”
Waitr founder and CEO Chris Meaux, along with the company’s executive team, will continue to serve in their respective roles in the combined company.
Meaux will also be appointed as chairman of the new company’s board of directors.
Headquartered in Lake Charles, Louisiana, Waitr has 5,000 restaurant partners in over 200 cities in the US.