Delivery Hero to acquire Zomato’s food delivery business in the UAE
Berlin, 4 March 2019 – Delivery Hero Group (“Delivery Hero”), one of the leading global online food ordering and delivery marketplaces, announced today that it entered into an agreement with Zomato Media Pvt. Ltd. (“Zomato”) to buy its food delivery business in the United Arab Emirates (UAE) through Delivery Hero’s fully owned subsidiary Talabat Middle East Internet Services Company LLC (“Talabat”).
The acquisition will add c. 1.2 MM monthly orders and c. USD 2 MM monthly revenue to Delivery Hero’s MENA business and will strengthen its leadership position in the UAE. The acquisition will be fully funded by an acquisition facility.
Moreover, Delivery Hero will participate in Zomato’s latest funding round by investing USD 50 MM into Zomato’s global business to become a Top 10 shareholder and also enter into a material operational partnership agreement.
Niklas Östberg, CEO of Delivery Hero, commented: “Zomato has built a successful food delivery business in the UAE and India on the back of its restaurant search and discovery app and website. The acquisition will allow us to further improve our service to customers in the UAE. We are also excited to become a shareholder in Zomato’s rapid food delivery growth story in India and share our learnings.“
Deepinder Goyal, CEO of Zomato, commented: “I am delighted to welcome Delivery Hero as a partner and shareholder and look forward to learning from their global experience to help us strengthen our fast growing India food delivery business.”
About Delivery Hero:
Delivery Hero is one of the leading global online food ordering and delivery marketplaces with number one market positions in terms of restaurants, active users and orders in more countries than any of its competitors and online and mobile platforms across 41 countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own delivery service primarily in over 200 cities around the world. The Company is headquartered in Berlin and has over 21,000 employees.
WKN: A2E4K4; ISIN: DE000A2E4K43
Founded by Deepinder Goyal, Zomato is a restaurant reviews, restaurant discovery, food delivery and dining out transactions platform providing in-depth information for over 1.4 million restaurants across 24 countries and serves more than 65 million users every month.