Dutch technology investor Prosus has reached a conditional agreement to acquire Just Eat, with the aim of creating the fourth largest food delivery group in the world.
Co-op, Iceland and Sainsbury’s are amongst the food retailers who currently work with Just Eat in the UK to facilitate on-demand or rapid grocery delivery.
“Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business,” explained Jitse Groen, Just Eat Takeaway.com CEO.
“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.”
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Prosus intends to acquire Just Eat Takeaway.com’s entire issued share capital for €20.30 per share via a recommended all-cash public offer on the Amsterdam exchange. This represents a 49% premium to the 3-month VWAP as of 21 February 2025, and a 22% premium to Just Eat Takeaway.com’s highest share price over the last three months.
“We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion,” said Fabricio Bloisi, Prosus’s CEO.
“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.”
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