Just Eat has acquired rival online food delivery services Hungryhouse, the UK-based food ordering platform of Germany’s Delivery Hero, and Canada’s SkipTheDishes for a total £266m.
The acquisition of Hungryhouse is valued at £200m, with a further cash amount of £40m possible, depending on its performance between signing and completion of transaction. The purchase – funded through cash resources and credit facilities – is subject to approval by the Competition and Markets Authority.
David Buttress, CEO of Just Eat, added: “The UK has long been an engine of growth for Just Eat. While we have significantly expanded internationally in recent years, we have remained focused on building a high growth, sustainably profitable business domestically.”
Meanwhile, the additional international acquisition of SkipTheDishes cost Just Eat CAD$110m (£66m) and is expected to be completed on 15 December.
Earlier this year, Just Eat acquired four other similar online food delivery companies as it continues to show substantial growth in the global market to battle with the likes of UberEats and Deliveroo.