Food delivery service Just Eat has agreed to merge with Dutch rival Takeaway.com, valuing the combine business at around £8.2bn.
The combined group will become one of the world’s largest food delivery platforms with 360m orders worth €7.3bn (£6.6bn) in 2018. Just Eat shareholders would own approximately 52.2 per cent of the business and Takeaway.com shareholders the remaining 47.8 per cent.
Assuming the deal goes ahead, Just Eat chairman Mike Evans would become chairman of the supervisory board of the group, while chairman of the Takeaway.com supervisory board Adriaan Nühn would assume the role of vice chairman of the supervisory board. Takeaway.com CEO Jitse Groen would take up the role of CEO of the combined group, Just Eat CFO Paul Harrison would be named CFO of the group, and Takeaway.com CFO Brent Wissink and COO Jörg Gerbig would assume the role of Co-COOs.
It is planned that the merged business will be headquartered in Takeaway.com’s Amsterdam home, while being listed on the London Stock Exchange and keeping a ‘significant part’ of operations in the UK.
Takeaway.com has until 5pm on 24 August 2019 to announce its intention to make a firm offer to Just Eat for almost half its business.