Takeaway acquires Delivery Hero and Foodora in Germany
Dutch food delivery group Takeaway.com has acquired the businesses of Delivery Hero in Germany. The acquisition comprises the Lieferheld, Pizza.de and Foodora brands in Germany and is in return for cash and a equity stake in Takeaway.com.
The acquisition marks just another move of Takeaway to slowly conquer the European market. The Dutch company has paid 508 million euros in cash for the takeover, but it will also hand out 9.5 million Takeaway.com shares, which are worth 422 million euros and represent about 18 percent of the total issued shares.
Lieferheld, Pizza.de and Foodora
Takeaway is already active in Germany with its Lieferando brand. The latest transaction also gives them the Lieferheld, Pizza.de and Foodora brands in Germany. “This enable us to offer an enhanced proposition for both consumers and partner restaurants”, the Dutch food delivery group states in a press release [pdf].
Transaction doubles Takeaway’s orders in Germany
According to Jitse Groen, CEO and founder of Takeaway.com, the acquisition also allows the company to operate on a significantly larger scale which is essential in building a profitable online food delivery business. “Although the transaction almost doubles Takeaway.com’s orders in Germany, there is still ample growth ahead, given that penetration of online food delivery in Germany is amongst the lowest in Europe. We look forward to welcoming Delivery Hero as a shareholder.”
Takeaway and Delivery Hero in Germany
During the first nine months of this year, the German businesses of Delivery Hero recorded 23 million orders, with a Gross Merchandise Value of 462 million euros and a revenue of 76 million euros. At the same time, Takeaway in Germany processed 23 million euros, a GMV of 471 million euros and a 60 million euros revenue.