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 now part of the MDAX stock market index. For more information, please visit www.deliveryhero.com
+49 1515 7017625
INVESTOR RELATIONS CONTACT
Head of Investor Relations
+49 160 30 13 435
This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE (“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 SE 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 included herein only speak as at the date of this 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.