Food delivery company Wonder has announced its plans to acquire GrubHub from Just Eat Takeaway.com for an enterprise value of $650m, which includes $500m in senior notes and $150m in cash.
This acquisition is expected to help Wonder’s “mission” of making food more accessible by bringing together restaurants, groceries, and meal kits into a single app.
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Following the acquisition, all Wonder locations will be available on Grubhub for third-party delivery.
The acquisition is expected to conclude by the first quarter of 2025, subject to customary closing conditions and regulatory approvals.
Wonder founder and CEO Marc Lore said: “Wonder’s acquisition of Grubhub continues our mission to make great food more accessible. As we enhance our customer experience with selection, speed, and variety, we’re excited to soon offer a curated selection of Grubhub’s restaurant partners directly in the Wonder app, alongside our owned and operated restaurants and meal kits.
“Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery.”
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By GlobalDataWonder has also secured $250m in capital from new investors to support its expansion.
Wonder is introducing a new “Fast Fine” dining category. The company offers a Multi-Restaurant Ordering system, which is claimed to be the first in the industry that allows customers to order from up to 30 restaurants in one go.
The platform offers exclusive dishes from “the world’s best chefs”, and US restaurants such as Maydan and Tejas Barbecue.
Wonder currently has 28 locations in the Northeastern US, with seven more to open by the end of this year.
Grubhub CEO Howard Migdal said: “I am incredibly excited for Grubhub to join forces with Wonder and bring more value to our diners, merchants, and delivery partners.
“Since our earliest days, Grubhub has helped restaurants open their doors to new customers while introducing diners to new cuisines. That’s why I’m confident that Grubhub will complement Wonder’s mission to make great food more accessible and that together we will create remarkable dining experiences for more customers across the country.”
Jefferies has acted as the exclusive financial adviser to Wonder for this transaction.
In June, Starbucks collaborated with GrubHub to begin deliveries in the US market.
