Prosus has reached a conditional agreement to acquire Just Eat Takeaway.com, to create the fourth largest food delivery group globally, according to the company’s statement seen by TechMoran.
Prosus intends to acquire Just Eat Takeaway.com’s entire issued share capital for €20.30 per share. 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.”
The deal will give Prosus a unique opportunity to extend the leadership of a strong European food delivery platform, complementing its existing food delivery footprint outside of Europe. Just Eat Takeaway.com operates in 17 international markets, with leading positions in the majority of its markets.
It connects 61 million customers with over 356,000 local partners and is one of Europe’s most recognised food delivery brands platforms with a strong brand awareness. In 2024 it generated €26.3 billion in GTV (€18.9 billion excl. Grubhub) and delivered an adjusted EBITDA of €460 million (€313 million excl. Grubhub).
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 United Kingdom, Germany and The Netherlands, has led to profitable, cash generative operations, with considerable growth potential, which Prosus intends to build upon.
“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.” said Just Eat Takeaway.com CEO, Jitse Groen.
Prosus also runs iFood, in Brazil which has invested so much in AI to revolutionise operations and enhance the customer experience and support for drivers, making it the most loved brand in Brazil. Prosus has a strong track record in food delivery outside of Europe and has invested more than US$10 billion globally in the industry. Today, Prosus’s food businesses span 70+ countries, serving 1m+ restaurants around the world. The current portfolio includes full ownership of iFood, a 28% stake in Delivery Hero, a 4% stake in Meituan, a 25% stake in Swiggy.
“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.,” said Fabricio Bloisi, Prosus’s CEO.
