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Online food delivery company Just Eat Takeaway.com has closed the sale of its Grubhub business to Wonder Group for an enterprise value of $650m.
Grubhub was transferred with $500m in senior notes, and following standard adjustments and expenses, the net proceeds to Just Eat Takeaway.com are expected to reach up to $50m.
The acquisition by Wonder Group includes all assets and the assumption of all material liabilities of Grubhub, with no contingent element to the sale consideration.
Announced in November 2024, the transaction is part of Just Eat Takeaway.com's strategy to focus on markets where it holds a competitive edge.
The sale is anticipated to enhance the company's gross transaction value (GTV) growth and free cash flow generation, as well as positively impact its capital structure and liquidity position.
Just Eat Takeaway.com's decision to sell Grubhub aligns with its commitment to investing in countries where it has the greatest competitive advantage.
Headquartered in Amsterdam, Just Eat Takeaway.com connects consumers and partners through its platforms.
With 731,000 partners, Just Eat Takeaway.com offers a wide range of options, from restaurants to retail.
In January 2024, Just Eat Takeaway confirmed the closure of its in-house delivery service in Paris, France.
Historically, the company has employed its couriers in Europe, distinguishing itself from competitors such as Uber, which depend on self-employed couriers within the gig economy.
The decision to halt operations in Paris follows a prior shift in strategy by Just Eat Takeaway. In 2022, the company ceased its in-house delivery operations across much of France, citing a competitive disadvantage.
"Just Eat Takeaway.com concludes Grubhub sale to Wonder Group" was originally created and published by Verdict Food Service, a GlobalData owned brand.
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