Delivery Hero agrees sale of its UK business
Berlin, 15 December 2016 – Delivery Hero Holding GmbH (“Delivery Hero”), a leading global online food ordering and delivery marketplace, announced today that it has agreed the sale of its UK business, hungryhouse Holdings Limited (“hungryhouse”), to Just Eat plc (“Just Eat”). The transaction is subject to approval by the United Kingdom’s Competition and Markets Authority (“CMA”). Hungryhouse will continue to be operated independently by Delivery Hero until the transaction closes.
At closing, Delivery Hero will receive a Base Purchase Price of £200 million payable in cash. A further cash consideration of up to £40 million may be payable, subject to the performance of hungryhouse between signing and closing of the transaction.
Delivery Hero acquired hungryhouse, which launched in the UK in 2006, in 2011. Under Delivery Hero’s leadership, hungryhouse organically built a powerful brand and platform for the online food ordering and delivery market in the UK.
Niklas Östberg, CEO of Delivery Hero commented: “The sale of hungryhouse to Just Eat rationalizes our global footprint, and we remain focused on operating market leading brands, globally. Proceeds from this sale will allow us to pursue further global growth opportunities, as we have consistently and successfully done in recent years. We also want to thank the entire hungryhouse team – this transaction reflects their amazing achievements within the Delivery Hero Group since 2011.”
David Buttress, CEO of Just Eat commented: “The UK has long been an engine of growth for Just Eat. While we have significantly expanded internationally in recent years, we have remained focused on building a high growth, sustainably profitable business domestically. Through this transaction, we would extend our market presence in the UK and sustain high levels of growth given the considerable opportunity in this market.”
About Delivery Hero
Delivery Hero is a leading global online food ordering and delivery marketplace connecting approximately 17 million active users and approximately 271,000 restaurants through its online and mobile platforms across 27 countries in Europe, the Middle East, Latin America and the Asia-Pacific region. Delivery Hero also offers premium food ordering and delivery in 51 cities across 10 countries. The Company is headquartered in Berlin and has over 3,000 employees.
About Just Eat
Just Eat plc operates a leading global marketplace for online food delivery. Headquartered in London, we use proprietary technology to offer a quick and efficient digital ordering service for over 16.6 million users and over 63,900 takeaway restaurants. Just Eat is a member of the FTSE 250 Index.
Disclaimer This press release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company (“forward-looking statements”). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will” or “should” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements only speak as at the date of this press release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.
Press Bodo v. Braunmühl, Head of Corporate Communications+49 (30) 544 45 9090
Investor Relations Reena Dennhardt, SVP Corporate Finance +49 (30) 5444 59134