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Investment group Prosus has signed a conditional agreement to acquire Netherlands-based on-demand delivery company Just Eat Takeaway.com in a €4.1bn ($4.28bn) deal.
Through the acquisition of JET, Prosus will establish a platform generating €53bn in gross transaction value and €10bn in revenue.
The combined entity will maintain a presence in 60 markets and provide services to hundreds of millions of customers with a network of more than four million delivery riders.
Prosus will purchase all issued shares of Just Eat Takeaway.com at €20.30 per share, executed through an all-cash public offer on the Amsterdam stock exchange.
This offer price marks a significant 49% premium over the volume-weighted average price for the past three months as of 21 February 2025, and represents a 22% premium over the company's highest share price during that same period.
Prosus CEO Fabricio Bloisi stated: "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.”
Just Eat Takeaway.com operates in 17 international markets, with robust market position in the UK, Germany and the Netherlands.
The company recorded a gross transaction value of €26.3bn in 2024 and delivered adjusted earnings before interest, taxation, depreciation and amortisation of €460m.
The acquisition is set to enhance Prosus's leadership in the European food delivery market while complementing its current international footprint.
Prosus, which is majority-owned by South African conglomerate Naspers, aims to expedite growth at Just Eat Takeaway.com . The company's success with iFood in Brazil serves as a blueprint for potential growth strategies, emphasising tech advancements, product features enhancement, demand generation, service quality improvement and logistical optimisation.
A key component of iFood's success has been Prosus's deployment of AI technology, which has revolutionised operations and significantly improved customer satisfaction and driver support in Brazil. These technological advancements present opportunities for similar enhancements at Just Eat Takeaway.com.