Wonderful news for Just Eat Takeaway: the meal platform is selling its American branch Grubhub to industry rival Wonder. Grubhub has been a source of concern for Just Eat Takeaway for years.
“Super app” for meals
Grubhub is moving to Wonder Group for 650 million dollars (613 million euros). Just Eat Takeaway is expected to net a maximum of 50 million dollars. Nevertheless, the takeover is a great relief: investors have been pushing for it for years, as the meal platform never really got a foothold in the American market.
It is therefore striking that an interested party has suddenly emerged. Marc Lore, founder and CEO of Wonder, sees the acquisition as a step towards creating a “super app” for meals. Last year, Wonder also acquired meal kit supplier Blue Apron.
Just Eat Takeaway believes that the sale will improve cash generation and accelerate growth. The transaction will finally allow the company to fully concentrate on markets where it has a stronger competitive position. The sale will not impact the 2024 full-year guidance as completion is expected in the first quarter of 2025.
