Just Eat Takeaway.com is set to be acquired by investment group Prosus in a €4.1 billion (£3.4 billion) deal, as Prosus aims to expand its food delivery presence across Europe.
Prosus has reached a conditional agreement to acquire Just Eat Takeaway.com for €20.30 (£16.80) per share through a recommended all-cash public offer on the Amsterdam exchange. Once completed, the deal would establish the fourth-largest food delivery group globally.
The acquisition represents a 49% premium to Just Eat Takeaway.com’s three-month volume-weighted average price (VWAP) and a 22% premium to its highest share price over the past three months.
The Netherlands-based tech company already supports over one million restaurants worldwide through its investments in Latin American food delivery platform iFood, Berlin-based Delivery Hero, Chinese platform Meituan, and India-based Swiggy.
Prosus stated that acquiring Just Eat Takeaway.com will strengthen its foothold in the European food delivery market.
Fabricio Bloisi, chief executive at Prosus, said: “We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion. Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships, and world-class logistics, powered by innovation and AI.
“We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway.com’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders.”
Jitse Groen, chief executive at Just Eat Takeaway.com, added: “Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business. Prosus fully supports our strategic plans, and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together.”
Just Eat Takeaway.com, headquartered in Amsterdam, collaborates with 731,000 partners across over 15 countries.
In 2021, Just Eat Takeaway.com acquired its American rival Grubhub in a $7.3 billion (£4.7 billion) deal, forming the world’s largest online food delivery brand outside of China.
In November 2024, Just Eat Takeaway.com agreed to sell Grubhub for an enterprise value of $650 million (£510 million), a fraction of the $7.3 billion (£4.7 billion) it had paid to acquire the brand.
The following month, Just Eat Takeaway.com delisted from the London Stock Exchange to reduce the administrative burden, complexity, and costs associated with the business.
