Global technology company Prosus has signed a conditional agreement to acquire Just Eat Takeaway.com for €4.1bn ($4.2bn) to establish the fourth-largest food delivery group worldwide.
The company will purchase all issued and outstanding shares of Just Eat Takeaway.com for €20.30 ($21.25) per share.
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The transaction will be conducted as a recommended all-cash public offer on the Amsterdam exchange, indicating Prosus’s confidence in the strategic value of the deal.
As a seasoned investor and operator in the global food delivery market, Prosus is positioned to drive growth and realise the full potential of Just Eat Takeaway.com.
The acquisition is expected to enhance Prosus’s leadership in the European food delivery platform and complement its existing food delivery footprint outside Europe.
Prosus CEO Fabricio Bloisi stated: “We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion.
“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 has created a strong rapport with its European customer base, developing some of the continent’s most popular food delivery brands.
Its operations in the UK, Germany and the Netherlands were both profitable and cash-generative.
Just Eat Takeaway.com CEO, Jitse Groen stated: “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.”
