Just Eat Takeaway.com has announced it will sell its US unit Grubhub to Wonder for an enterprise value of $650 million (€612 million).
Grubhub will be transferred with its $500 million (€471 million) of senior notes and, after customary adjustments, net proceeds to the company are expected to be up to $50 million (€47 million).
Completion of the sale is expected during Q1 2025, subject to customary closing conditions including regulatory approvals.
Accelerate Growth
Following completion of the Transaction, Just Eat Takeaway.com will retain no material liabilities associated with Grubhub.
Jitse Groen, founder and CEO of Just Eat Takeaway.com, said, "The sale of Grubhub to Wonder will increase the cash generation capabilities of Just Eat Takeaway.com and will accelerate our growth.
"This deal delivers the right home for Grubhub and its employees.
"I would like to thank everyone at Grubhub for their contributions to both Grubhub and the wider Just Eat Takeaway.com business."
Food More Accessible
Marc Lore, founder and CEO of Wonder, said, "Wonder’s acquisition of Grubhub continues our mission to make great food more accessible.
"As we enhance our customer experience with selection, speed, and variety, we’re excited to soon offer a curated selection of Grubhub’s restaurant partners directly in the Wonder app, alongside our owned and operated restaurants and meal kits.
"Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery."
