Just Eat and Takeaway.com merge to create food delivery giant
Just Eat has been acquired by Dutch company Takeaway.com, creating one of the world's largest food delivery companies.
The merger, which was approved by both boards this morning, will be worth $10 billion (£8.3 billion), and sees the UK company's shares valued at 731 pence.
It will create a combined company, to be known as Just Eat Takeaway.com, which will be one of the leading delivery companies globally. It will have particularly strong penetration in the UK, German, Dutch, and Canadian markets.
Between them, the two firms claim to have received 355 million orders last year, worth a total of €7.3 billion.
Announcing the agreement this morning, the two boards said in a joint statement: “The Just Eat Board and Takeaway.com management board believe that the combination has compelling strategic logic and represents an attractive opportunity for both companies to build on the strong individual platforms of Just Eat and Takeaway.com.”
The companies continued: “By pooling knowledge and best practices from across both companies, the combined group will be able to draw on its global employee base to realise growth opportunities and address evolving market challenges.
“Both Just Eat and Takeaway.com have a strong history of in-house development and innovation. The Combined Group owns proprietary products and technologies that can be used across the footprint to create best-in-class experiences for restaurant partners and consumers accessing a portfolio of leading and trusted brands.”