Wonder to acquire Grubhub for $650M
Just Eat Takeaway originally purchased Grubhub for $7 billion in 2020 and has been trying to sell the company since 2022.
Wonder, a company that operates delivery-focused food halls, will acquire Grubhub for $650 million from Just Eat Takeaway.com (JET), the companies said in a press release emailed to Restaurant Dive. The transaction is expected to be completed during Q1 2025, subject to closing conditions and regulatory approval.
Wonder, which has 28 food halls, also raised $250 million in capital from new investors. The company has grown rapidly and previously raised $700 million in March with plans to reach 90 locations next year. All of its locations will be available on Grubhub for third-party delivery.
JET originally purchased Grubhub for $7 billion in 2020, and has tried selling Grubhub since April 2022 following criticism from activist investor Cat Rock Capital which claimed Grubhub was reducing JET’s overall value. Selling Grubhub will help JET invest in countries where it will have a competitive advantage, in addition to improving its overall balance sheet, the company said. Grubhub’s share of the U.S. food delivery market has declined steadily in relative turns since 2020, according to Bloomberg Second Measure data.
Restaurant Dive
Related news
Trump installs 10% baseline tariff, country-specific duties
The U.S. will implement a tariff of 10% on all…
Read more >Walmart deploys AI for fresh produce monitoring and forecasting
Walmart Inc. continues to improve oversight of its fresh produce…
Read more >Délifrance acquisition makes Vandemoortele market leader
Belgian Vandemoortele has acquired French bakery group Délifrance to form…
Read more >Related news
THE LATEST ISSUE OF TRADE MAGAZINE IS OUT NOW!
The extended digital version of the latest, 2025/4 issue of…
Read more >Half full is the glass of the past 15 months
One of the most popular online events of the Trade…
Read more >Most people are looking for traditional ham for Easter
Most people are looking for traditional, slow-cured ham for Easter,…
Read more >