The future is clearly bright for ex-Grubhub owner Just Eat Takeaway as it has recently been acquired by Prosus, a South African Internet investor for a whopping, get this, $4.2 billion. Keep following this story for more.
$4.2 billion acquisition
Prosus is not just a South African-owned Internet investor, but also a formidable backer of Delivery Hero. And, it’s not just a $4.2 billion acquisition, but paid in cash. Whoa.
This deal came six years after Prosus initially made its first effort to purchase the British side of the business at $21.25 per share for holders of the Amsterdam-listed shares of Just Eat Takeaway, a 22 percent premium on its share price high spanning three months, but only a fifth of its peak of around $105, pandemic period.
Speaking of the pandemic, Just Eat Takeaway was also among the rockstars of this cruel time since its valuation rose as there was no other prime choice for people, but to turn to food and grocery deliveries during the lockdowns.
In the latest acquisition, Fabricio Bloisi, the chief executive officer of Prosus, mentioned the deal paved the way for an “opportunity to create a European tech champion,” adding that his company “already has an extensive food delivery portfolio outside of Europe” as well as “a proven track record of profitable growth through investment.”
Prosus considers itself a global technology investor and operator, backing native entrepreneurs to build valuable products for their two billion and more customers and help communities thrive. They also empower their internal teams to further hone their skills and build meaningful careers.
South African conglomerate the ventures on global consumer Internet Naspers owns Prosus, which has interests across various sectors that include the media, online classified ads, payments and education, and food delivery.
Currently, Prosus is the part-owner of Delivery Hero, Meituan of China, and Swiggy of India.
Just Eat Takeaway is a Dutch multinational online food ordering and delivery company.
Grubhub teams up with Walgreens
In other Grubhub news, the app has also collaborated with drugstore corporation Walgreens in order to introduce its merchandise to the Grubhub catalog. Through this partnership, Grubhub customers can get access to 15,000 items for on-demand delivery, which include beauty, health and wellness, snacks, personal care, household items, toys, and so much more.
"As a Chicago-based company, working with another hometown favorite is particularly special. The addition of these two brands helps us scale our convenience offerings across the country with a strong focus on key markets like Chicago and New York City, and we look forward to delivering even more value and convenience to our shared communities,” Grubhub said in its official statement shared with the media.
Meanwhile, Walgreens stated that with this deal, customers can now “get what they want, when they want it, and how they want it.”
See the partnership unfold by visiting Grubhub now.