Prosus CEO Fabricio Bloisi said acquiring Just Eat Takeaway.com provides a unique opportunity to extend the leadership of a strong European food delivery platform, complementing Prosus’s existing food delivery footprint outside of Europe. Picture: Supplied.
Prosus, the JSE and Amsterdam listed global technology company, has reached an agreement to acquire Just Eat Takeaway.com, creating the fourth largest food delivery group globally for €4.1bn (R78.96 billion).
Prosus intends to acquire all of Just Eat Takeaway.com’s shares for €20.30 per share via a recommended all-cash public offer on the Amsterdam exchange. This is a 49% premium to the 3-month average price as of February 21, 2025, and a 22% premium to Just Eat Takeaway.com’s highest share price over the last three months.
“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,” Prosus CEO Fabricio Bloisi stated in a statement Monday.
Prosus has invested more than $10bn globally in driving the momentum of its food category, which spans more than 70 countries. Its portfolio includes iFood, the Latin America food delivery platform, a 28% stake in Delivery Hero, and about 4% in Meituan, the world’s largest food delivery business. Prosus also owns 25% of Swiggy, the recently listed food and grocery delivery platform in India.
“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 accelerate our investments and growth across food, groceries, fintech, and other adjacencies,” said Just Eat Takeaway.com CEO Jitse Groen.
Bloisi said acquiring Just Eat Takeaway.com provides a unique opportunity to extend the leadership of a strong European food delivery platform, complementing Prosus’s existing food delivery footprint outside of Europe. He said Just Eat Takeaway.com has a deep connection to its customer base and has developed some of the most loved food delivery brands in Europe.
“Its success within the UK, Germany, and The Netherlands has led to profitable, cash-generative operations with considerable growth potential, which Prosus intends to build upon,” said Groen.
Bloisi added that Prosus was well positioned to invest in and accelerate growth at Just Eat Takeaway.com to unlock value beyond its standalone potential as a listed business. Prosus’s growth strategy at iFood, in Brazil, would provide a ready guide to transform Just Eat Takeaway.com’s growth through renewed focus across tech, product features, demand generation, offer quality, and service.
Just Eat Takeaway.com operates in 17 international markets, with leading positions in the majority of its markets. Across its markets, it connects 61 million customers with over 356 000 local partners.
BUSINESS REPORT
Related Topics: