Delivery Hero reinforces commitment to the Kingdom of Saudi Arabia by taking sole ownership of HungerStation
Berlin, 21 July 2023 – Today, Delivery Hero SE (“Delivery Hero” or “the Company”) announced that it has purchased all outstanding minority shareholdings – a total of 37% – in HungerStation Holding Limited (“HungerStation”), the sole shareholder of HungerStation Company Ltd in the Kingdom of Saudi Arabia (“KSA”), which operates Delivery Hero’s Saudi business.
The transaction came to a total of USD 297m, which Delivery Hero considered a highly attractive purchase price. In FY 2022, HungerStation generated revenue growth of 36% to EUR 609m, and achieved a positive EBIT, including group costs, of more than EUR 50m.
HungerStation is the leading food delivery player in Saudi Arabia, connecting more than 10,000 partners with customers. Its strong position and reputation as a beloved local brand make it a valuable asset for Delivery Hero. Taking sole ownership will allow Delivery Hero to build stronger ties between HungerStation and the rest of its ecosystem, including greater opportunities for mutual knowledge sharing and tech integration.
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “We believe in the Kingdom of Saudi Arabia’s 2030 vision, ambition and potential, and are committed to contributing to its ongoing success through HungerStation. I look forward to continuing to build great products and delivering an amazing experience for our Saudi customers.”
ABOUT DELIVERY HERO
Delivery Hero is the world’s leading local delivery platform, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and Africa. The Company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 20 to 30 minutes. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index. For more information, please visit www.deliveryhero.com
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