Food delivery has risen in popularity tremendously these past few years, touting convenience and ease of use. Grubhub, for one, has held its own in the industry as a top go-to app for consumers. Now, the food delivery company will have a bigger platform to strategize from. Just Eat Takeaway.com has unveiled its finalized acquisition of 100 percent of Grubhub’s shares, symbolizing the company’s entry into online food delivery in the U.S. market.
“I couldn’t be more excited to enter this next chapter of Grubhub’s story with the global leadership and experience of the Just Eat Takeaway team,” said Matt Maloney, Founder of Grubhub. “Our companies share an unwavering focus on supporting restaurants and our communities around the world. Together, we will continue to innovate and break new ground in our industry as we each have separately for the past 20 years.”
News of the acquisition first broke out last June, as we reported on our sister site AndNowUKnow. At that time, the deal stated Just Eat was to acquire all of Grubhub’s shares for $7.3 billion in an all-stock transaction.
As a result of the recent deal, Matt Maloney’s appointment to the Just Eat Takeaway.com management board, as well as the appointments of Lloyd Frink and David Fisher to the supervisory board, will become effective shortly after completion, subject to each confirming the acceptance of their respective appointments, a press release noted.
Through this acquisition, the company now occupies four of the world’s most competitive markets in online food delivery—the United States, the Netherlands, the United Kingdom, and Germany—drastically increasing its ability to bolster its brand presence in each of these key regions.
“I have always believed that the combination of Takeaway.com, Just Eat, and Grubhub is a winning combination,” Jitse Groen, Founder and Chief Executive Officer of Just Eat Takeaway.com, said. “The new company is the market leader in Europe, Canada, and Australia, with very strong positions in the most important markets in the United States. It is humbling to run such a company after our start in Holland more than twenty years ago. We welcome Matt and his team to this great company.”
How will this continue to influence the grocery and foodservice industry? Deli Market News will keep an eye on the wire.