Just Eat Takeaway.com has completed its widely anticipated acquisition of US food delivery venture Grubhub for $7.3 billion.
The acquisition means that Just Eat takes ownership of 100 per cent of Grubhub stock in an all-share deal.
The deal was first announced in June last year as Just Eat sought to move into the US food delivery market after basing the majority of its operation in Europe.
Just Eat rival Uber had tabled an offer of an acquisition for Grubhub in 2020 however, the former’s offer was accepted in a deal which has now made the largest online food delivery service outside of China.
Grubhub was founded in 2014 and had nearly 20 million active users from all 50 states in the US in 2019.
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“I have always believed that the combination of Takeaway.com, Just Eat and Grubhub is a winning combination,” Just Eat chief executive Jitse Groen said on the merger.
“It is humbling to run such a company after our start in Holland more than twenty years ago. We welcome Matt and his team to this great company.”
The completed transaction now means Just Eat’s main area of operations will be in the Netherlands, UK, Germany and now the US.
Grubhub founder Matt Maloney will join Just Eat’s board of directors and head up North American operations.
Just Eat started 2021 strongly, announcing first quarter orders rose by 79 per cent to 200 million from 112 million year-on-year.
“The absolute gap with our competitors has increased during the pandemic,” Groen added in an interview with the Telegraph.