How about a delivery service going global? Interested?

How about a delivery service going global? Interested?


Steve’s breakdown: Amsterdam-based delivery company to merge with Chicago-based platform in all-stock deal is the news but what are the implications?

Big bucks and worldwide backup for Grubhub from Just Eat Takeaway.com to give them confidence to aggressively continue growth and we love that attitude in the ad new biz world. So look for Grubhub to be shooting for Uber-Eats big-time with bolder advertising. Does their present agency have the juice?

BTW: The Grubhub portfolio of brands includes Grubhub, Seamless, LevelUp, AllMenus and MenuPages.

CHICAGO, IL & AMSTERDAM, Holland: Just Eat Takeaway.com, a third-party delivery company based in Amsterdam, has agreed to acquire Chicago-based Grubhub Inc. in an all-stock transaction valued at about $7.3 billion, the companies announced late Wednesday.

The acquisition would create the largest food delivery company outside China, the companies said. The deal would give Grubhub shares an implied value of $75.15, based on Just Eat Takeaway.com’s closing price of $98.60 Euro on June 9.

Grubhub had been in discussions since May with Uber Technologies Inc., parent to the Uber Eats platform, but those talks raised antitrust concerns from some federal lawmakers.

“Like ridesharing, the food delivery industry will need consolidation in order to reach its full potential for consumers and restaurants,” an Uber spokesperson said Wednesday. “That doesn’t mean we are interested in doing any deal, at any price, with any player.”

Just Eat Takeaway.com and Grubhub said the combined company would connect restaurant partners with customers in 25 countries, including the United States, the United Kingdom, the Netherlands and Germany. Just Eat Takeaway.com owns SkipTheDishes in Canada

Upon the deal’s completion, expected in the first quarter of 2021, Grubhub shareholders would own about 30% of the combined company.

Also upon completion, Matt Maloney, CEO and founder of Grubhub, would join the Just Eat Takeaway.com management board and lead the combined group’s businesses across North America. Two current Grubhub directors would join Just Eat Takeaway.com’s supervisory board.

“Matt and I are the two remaining food-delivery veterans in the sector, having started our respective businesses at the turn of the century, albeit on two different continents,” said Jitse Groen, CEO and founder of Just Eat Takeaway.com, in a statement. “Both of us have a firm belief that only businesses with high-quality and profitable growth will sustain in our sector. I am excited that we can create the world’s largest food delivery business outside China.”

Maloney added: “I’ve known Jitse since 2007, and his story is much like mine. Combining the companies that started it all will mean that two trailblazing start-ups have become a clear global leader. We share a focus on a hybrid model that places extra value on volume at independent restaurants, driving profitable growth.”

The transaction is subject to the approval of both Just Eat Takeaway.com and Grubhub’s shareholders, as well as other customary conditions.

Just Eat Takeaway.com is listed on Euronext Amsterdam and the Main Market of the London Stock Exchange and will introduce an ADR listing in the U.S..

Just Eat Takeaway.com was founded in 2000 and connects to 155,000 restaurants in in the U.K., the Netherlands, Germany, Denmark, France, Ireland, Italy, Norway, Spain, Belgium, Poland, Austria, Israel, Switzerland, Luxembourg, Portugal, Bulgaria, Romania, Australia, New Zealand, Canada, Mexico and Brazil.

Grubhub, founded in 2004, features nearly 300,000 restaurants in more than 4,000 U.S. cities. The Grubhub portfolio of brands includes Grubhub, Seamless, LevelUp, AllMenus and MenuPages.

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