Just Eat Takeaway.com to combine with Grubhub in $7.3b deal

Just Eat Takeaway.com is set to merge with Grubhub in a $7.3b (£5.8b) deal that will create the world's largest online food delivery company outside of China.

The merger will see Just Eat Takeaway.com's entry into online food delivery in the US and follows hot on the heels of the Competition and Markets Authority (CMA) clearing the £6.2b merger between Just Eat and Takeaway.com just two months ago.

On completion, Matt Maloney, chief executive and founder of Grubhub, will join the Just Eat Takeaway.com management board and lead the combined group's businesses across North America, while two Grubhub directors will join the Just Eat Takeaway.com supervisory board.

The transaction is subject to the approval of both company’s shareholders, and is expected to complete in the first quarter of 2021.

Jitse Groen, chief executive of Just Eat Takeaway.com, said: “Matt and I are the two remaining food delivery veterans in the sector, having started our respective businesses at the turn of the century, albeit on two different continents. Both of us have a firm belief that only businesses with high-quality and profitable growth will sustain in our sector. I am excited that we can create the world's largest food delivery business outside China. We look forward to welcoming Matt and his team to our company and working with them in the future.”

Maloney added: “Combining the companies that started it all will mean that two trailblazing start-ups have become a clear global leader. We share a focus on a hybrid model that places extra value on volume at independent restaurants, driving profitable growth. Supported by Just Eat Takeaway.com, we intend to accelerate our mission to be the fastest, best and most rewarding way to order food from your favourite local restaurants in North America and around the world. We could not be more excited.”

Photo: Shutterstock

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