Just Eat Takeaway, the Netherlands-based food delivery giant, announced it is selling its U.S. subsidiary Grubhub to Wonder in a transaction valued at $650 million. This sale, expected to close by Q1 2025, marks Just Eat Takeaway’s exit from the U.S. market after acquiring Grubhub in a $7.3 billion deal in 2020, a move initially contested by Uber as a potential buyer.
Jitse Groen, Just Eat Takeaway’s founder, emphasized that the sale strengthens the company’s financial position and aligns with its strategy to prioritize growth in markets where it holds a competitive edge. In a statement, Groen thanked Grubhub employees for their contributions, noting that the deal would allow Just Eat Takeaway to focus on markets that enhance cash flow and support its expansion goals.
Wonder’s CEO Marc Lore outlined the acquisition’s potential to support Wonder’s aim of building a “super app” for food delivery, integrating Grubhub’s restaurant partners into Wonder’s existing offerings. “Bringing Wonder and Grubhub together is the next step in our vision to create the super app for mealtime, re-envisioning the future of food delivery,” Lore stated, emphasizing enhanced customer experience through a greater variety and faster service.
Wonder has raised over $1.7 billion from investors like Accel, Bain Capital Ventures, and Google Ventures, supporting its ambition to diversify and grow in the competitive food delivery sector.
Featured image courtesy of VML
