Wonder has announced its plan to acquire Grubhub from Netherlands-based Just Eat Takeaway in a transaction valued at $650 million. This move positions Wonder as a formidable player aiming to establish a “super app” for food delivery by merging its resources with Grubhub’s extensive U.S. network. Wonder, founded by entrepreneur Marc Lore, plans to integrate Grubhub’s 375,000 restaurant partners and 200,000 delivery drivers into its platform to enhance selection, speed, and variety for customers. The transaction is set to conclude by the first quarter of 2025, subject to regulatory approvals.
For Just Eat Takeaway, this sale marks a strategic shift as it seeks to focus on markets where it holds a competitive advantage. After acquiring Grubhub in 2020 for $7.3 billion, the company has sought to offload the asset in order to strengthen its cash flow and capitalize on its stronger international markets. CEO Jitse Groen expressed optimism that Grubhub’s new home at Wonder will benefit both companies. He acknowledged Grubhub’s contributions to Just Eat Takeaway’s growth and emphasized that the deal would enhance the company’s capital structure and liquidity.
The acquisition aligns closely with Wonder’s ambitious vision to redefine food delivery through a super app that combines first-party and third-party restaurant offerings alongside meal kits. Wonder has already secured over $1.7 billion in funding, with a recent infusion of $250 million to support this integration. Wonder’s CEO, Marc Lore, envisions the app as a revolutionary platform where users can order from a curated list of high-profile chefs and restaurants, including partnerships with culinary talents like Bobby Flay, José Andrés, and Marcus Samuelsson. By consolidating Grubhub’s delivery and logistical reach, Wonder aims to make its multi-restaurant ordering concept accessible to a larger U.S. audience.
Grubhub’s existing U.S. presence and established relationships with universities and corporate clients will also be a valuable addition to Wonder’s portfolio. Grubhub CEO Howard Migdal expressed enthusiasm for the partnership, highlighting the potential to offer enhanced dining experiences through combined efforts. This acquisition follows Wonder’s recent purchase of meal kit company Blue Apron, further solidifying its mission to bring accessible, high-quality dining options to more customers.
Comments
Loading…