Prosus to acquire Dutch food delivery giant Just Eat Takeaway in €4.1B deal

Just Eat Takeaway

The food delivery industry is undergoing significant transformation as companies prioritise profitability over expansion. Rising costs, changing consumer behaviours, and market saturation have driven consolidation and strategic divestments across the sector.

At this point in time, the Dutch investment firm Prosus has announced its intention to acquire Just Eat Takeaway.com for €4.1 billion, offering €20.30 per share. This move will result in Just Eat Takeaway.com delisting from the Amsterdam stock exchange. The acquisition aims to bolster Prosus’s position in the global food delivery market, making it the fourth-largest entity in the sector. 

Previously, Just Eat Takeaway.com sold 33% of its stake in iFood, a Latin American joint venture to Prosus. 

Just Eat Takeaway.com’s financial challenges

In recent years, Just Eat Takeaway.com has faced financial difficulties. It was experiencing declining share price. From a peak of €110 per share in October 2020, the company’s share price has significantly decreased. Also, the food delivery giant reported a net loss of €1.6 billion in 2024, slightly improving from €1.8 billion in 2023. Its revenue also dropped to €5 billion in 2024 from €5.1 billion the previous year.  

Strategic measures 

To address these challenges, the company implemented several strategies: 

Workforce reduction: Over 2,000 employees were laid off across multiple rounds of redundancies.

Market exit: Sold its US subsidiary, GrubHub, in November 2024 for $650 million, a significant decrease from the $7.3 billion acquisition cost in 2021. 

Prosus expands into food delivery industry

Prosus, known for its investments in tech companies, holds significant stakes in food delivery giants across the world, including Delivery Hero, Meituan, and Swiggy. The acquisition of Just Eat Takeaway.com aligns with its strategy to expand its footprint in the food delivery industry. 

Post-acquisition, Just Eat Takeaway.com’s current management, including CEO Jitse Groen, will remain in place. The company plans to continue its focus on growth in areas such as food, groceries, and fintech. 

“We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion,” said Fabricio Bloisi, Prosus’s CEO. “Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships, and world-class logistics, powered by innovation and AI. We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway.com’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders.”

Just Eat Takeaway.com CEO, Jitse Groen added: “Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business. Prosus fully supports our strategic plans, and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together.”

The post Prosus to acquire Dutch food delivery giant Just Eat Takeaway in €4.1B deal appeared first on Tech Funding News.

Facebook
Twitter
LinkedIn

Share:

More Posts

Stay Ahead of the Curve

Get the latest business insights, expert advice, and exclusive content delivered straight to your inbox. Join a community of forward-thinking entrepreneurs who are shaping the future of business.

Related Posts

Scroll to Top