Uber to buy Delivery Hero for EUR13b
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The news: Uber will buy German food delivery group Delivery Hero for EUR13 billion, creating a combined platform operating in 99 countries.
The companies announced the deal in a joint statement on Wednesday, after Uber became Delivery Hero’s largest shareholder and began takeover talks in May.
The details: New York-based private equity firm SSW Partners will pay EUR1.4 billion for Delivery Hero’s businesses in 14 markets where it competes with Uber, including South Korea and parts of Europe.
Uber has committed to keeping Delivery Hero’s Berlin headquarters and employees until at least 2029. It will also make “reasonable efforts” to invest EUR2 billion in Germany by 2031.
The deal is expected to close in the second half of 2027, subject to regulatory approval and a shareholder vote.
The context: Uber said the acquisition would bring its technology platform to Delivery Hero’s local brands and strengthen its global position. It follows DoorDash’s acquisition of British food delivery company Deliveroo last year.
Delivery Hero operated in Australia under the Foodora brand until 2018, when it exited amid competition from Uber Eats and Deliveroo. At the time, it said it would focus on markets with greater growth potential.
What they said: “By bringing our platforms together, Uber will extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” said Dara Khosrowshahi, CEO of Uber.
“This acquisition and Uber’s planned investment in Germany demonstrate the attractiveness of the European tech ecosystem and we intend to keep contributing to its growth,” said Niklas Östberg, co-founder and CEO of Delivery Hero.
The sources: Delivery Hero, WSJ
