Delivery Hero targets Middle East as high growth region for food delivery
Takeover of market leader Talabat.com
Berlin, Germany, 11th March 2015: Delivery Hero, the global leader in online and mobile food ordering, today announced its market entry into the Middle East with the takeover of the regional market leader Talabat.com.
Besides operating in its home market Kuwait, Talabat is active in Saudi Arabia, United Arab Emirates (“UAE”), Bahrain, Oman and Qatar with particularly strong market positions in Kuwait, UAE and Saudi Arabia. The restaurant network of Talabat consists of c. 1,300 partner restaurants including global brands like Burger King, KFC, Pizza Hut, Papa John’s, TGI Fridays and Subway.
Talabat was recently acquired by Rocket Internet. Through the contribution of Talabat to the business of Delivery Hero and the acquisition of shares from existing Delivery Hero investors for EUR 52 million, Rocket Internet will increase its stake in Delivery Hero to c. 39% (formerly 30%).
Niklas Östberg, CEO of Delivery Hero, commented: “The Middle East was always a missing piece to our global vision. Talabat built a fantastic business over the last years, making the most orders in the region. We will be instantly in a leading position in a region with tremendous growth potential.”