Delivery Hero acquires foodpanda
10 DECEMBER 2016, BERLIN
SummaryTransaction strengthens Delivery Hero’s global leadership position in online food ordering and delivery.
Delivery Hero, a leading global online food ordering and delivery marketplace, announced today that it signed a definitive agreement to acquire foodpanda. The transaction strengthens Delivery Hero’s global leadership position in online food ordering and delivery, with the combined group expecting to process over 20 million orders per month across 47 countries.
foodpanda will add 20 new countries in Eastern Europe, MENA and Asia to Delivery Hero’s platform increasing the size of Delivery Hero’s total addressable market. In addition, foodpanda will enable Delivery Hero to consolidate its market leadership position in the Middle East. foodpanda will also benefit from Delivery Hero’s global capabilities and sharing of best practices.
foodpanda, headquartered in Berlin, is an online food ordering and delivery marketplace processing approximately 2 million monthly orders across 22 countries in Eastern Europe, MENA and Asia with market leading positions in 17 of them. The acquisition of foodpanda will be funded through the issuance of new shares in Delivery Hero to existing foodpanda shareholders. As a result, Rocket Internet, a major shareholder of foodpanda, will increase its ownership in Delivery Hero to 37.7% on a fully diluted basis post transaction. The transaction is subject to customary closing conditions and is expected to close prior to December 31, 2016.
Niklas Östberg, CEO of Delivery Hero, commented: “foodpanda has built a fantastic position and service offering in some of the largest food delivery markets globally. We look forward to working with the team to continue creating unparalleled takeaway experiences for our customers around the world.”
Ralf Wenzel, CEO of foodpanda Group, commented: “I am delighted to join forces with Delivery Hero and be part of a global platform that will help us grow and with which we share a common vision.”
About Delivery Hero
Delivery Hero is a leading global online food ordering and delivery marketplace connecting approximately 17 million active users and approximately 271,000 restaurants through its online and mobile platforms across 27 countries in Europe, the Middle East, Latin America and the Asia- Pacific region. Delivery Hero also offers premium food ordering and delivery in 51 cities across 10 countries. The Company is headquartered in Berlin and has over 3,000 employees.