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NEW YORK and CHICAGO, Nov. 13, 2024 /PRNewswire/ -- Wonder, a new kind of food hall that is revolutionizing the food industry by creating the super app for mealtime, announced that it is acquiring Grubhub, a leading food ordering and delivery platform with more than 375,000 merchants and 200,000 delivery partners across the United States. Integrating Grubhub with Wonder is the next step in Wonder's mission to make great food more accessible, bringing together the convenience, speed and selection of first-party and third-party restaurants, groceries and meal kits in a single app order. Additionally, all Wonder locations will be available on Grubhub for third-party delivery.
Wonder will acquire Grubhub from Just Eat Takeaway.com for an enterprise value of $650 million, including $500 million of senior notes and $150 million cash. Completion is expected during Q1 2025, subject to customary closing conditions including regulatory approvals. Jefferies served as Wonder's exclusive financial advisor on the transaction.
Wonder has also announced an additional $250 million in capital raised exclusively from new investors to further its mission and growth.
Founded by serial entrepreneur Marc Lore, Wonder is making great food more accessible while pioneering a new category of "Fast Fine" dining. Wonder offers Multi-Restaurant Ordering, a first in the industry where customers can order from upwards of 30 restaurants in a single order, with each item being made-to-order in a sequenced fashion so that they finish simultaneously and can be delivered to the customer together.
The platform features exclusive offerings from the world's best chefs–including Bobby Flay, Marcus Samuelsson and José Andrés–and the country's best restaurants–including Maydan, Tejas Barbecue, Di Fara Pizza and Fred's Meat and Bread. Wonder currently has 28 locations in the Northeastern U.S., with seven additional locations slated to open by the end of the year. Leveraging its proprietary technology, Wonder is able to differentiate itself from every other restaurant or food delivery concept by offering exceptionally high-quality food, with order-to-delivery times below 30 minutes.
For 20 years, Grubhub has connected merchants with nearby customers looking for takeout and delivery. Its logistics network covers the vast majority of the U.S. population with on-demand delivery from independent restaurants, leading national restaurant brands, and convenience, grocery, pet and office supply retailers. The company's loyalty program, Grubhub+, provides members with $0 delivery fees, lower service fees and 5 percent back on pickup orders. Beyond its consumer delivery marketplace, Grubhub has a Campus Dining business that powers online ordering at more than 360 universities and a Corporate Accounts business that provides flexible meal perks platforms for more than 10,000 companies.