In a significant expansion move, Uber Technologies is set to acquire the German food delivery firm Delivery Hero for $14.8 billion. This acquisition will bolster Uber’s reach across 50 international markets, marking a substantial step in its global strategy.
Uber will offer €41.50, or $47.60 per share, for Delivery Hero’s primary global operations, a deal that also includes acquiring shares held by major stakeholder Prosus. This strategic acquisition underlines the ongoing consolidation trend in the global food delivery sector, which has seen rapid growth during the Covid-19 pandemic.
Additionally, investment firm SSW Partners will take over Delivery Hero’s operations in 14 markets for around $1.6 billion. The assets involved include businesses in countries such as Austria, Norway, Spain, and Sweden. SSW Partners plans to sell these assets individually, capitalizing on the growing competition and opportunities within the market.
This acquisition by Uber comes as part of its broader strategy to strengthen its international presence in the food delivery domain. Uber has been actively pursuing various strategies to expand its footprint overseas, mirroring efforts by its competitors who are also seeking to solidify their positions in this competitive industry.
Delivery Hero had previously initiated a strategic review in response to investor pressure for restructuring and additional asset sales. With this acquisition, Uber is poised to significantly enhance its global food delivery market presence, leveraging Delivery Hero’s established international network.