Uber Technologies has signed a business combination agreement to acquire Delivery Hero in a deal that values the German company at $14.8bn.
Under the voluntary takeover offer, Uber plans to pay Delivery Hero shareholders €41.50 ($47.6) per share in cash.
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If completed, the deal will create the largest food-delivery group outside China, according to a Reuters report.
The combined mobility and delivery platform will span 99 markets. A statement from Delivery Hero said that it generated $236bn in gross merchandise value (GMV) in 2025 on a pro-forma basis.
Separately, Delivery Hero has agreed a deal with New York-based investment company SSW Partners.
According to the agreement, SSW will acquire Delivery Hero assets in 14 markets, particularly in territories where Uber Eats and Delivery Hero currently intersect.
This transaction, which is subject to completion of Uber’s takeover offer and other customary conditions, is valued at about $1.6bn.
Uber will not gain control of the operations sold to SSW as the investment company will independently manage those assets and seek strategic partners to support their long-term development.
As part of the agreement, Uber is set to acquire Baedal Minjok in South Korea, Hungerstation in Saudi Arabia, foodora in Hungary, foodpanda in nine Asian markets, and talabat in eight Middle Eastern countries.
It will also acquire Glovo in 17 markets across Europe, Africa and Central Asia, and PedidosYa in 13 Latin American markets.
Delivery Hero chief executive Niklas Östberg said: “We are excited about this opportunity with Uber and the possibilities it offers for our employees, shareholders, and partners.
“Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and Quick Commerce, and to take our Everyday App strategy further for our customers.”
The combined group expects the deal to expedite innovation and generate benefits for consumers, merchants, couriers and drivers.
Following completion, Uber’s presence in markets where it offers both mobility and delivery services is projected to rise from 34 to 58.
Uber stated that it “fully supports and respects” Delivery Hero’s existing employee commitments, adding that it has pledged to retain the platform’s Berlin-based headquarters and workforce until at least 2029.
The company has also promised to invest €2bn in Germany over the next five years.
Uber chief executive Dara Khosrowshahi said: “Together, we’ll nearly double the number of markets where we offer both mobility and delivery services, scaling a proven platform that we believe will create significant long-term value for our customers and shareholders.”
The takeover offer will be subject to a minimum acceptance threshold of 50% plus one share of Delivery Hero’s outstanding share capital, along with certain additional conditions.
As an existing Delivery Hero shareholder, Uber held 24.77% of the food delivery company’s issued voting share capital directly, before the latest offer. It also held a further economic exposure of 11.74% through equity derivatives.
