Just Eat Takeaway is set to be purchased by Dutch technology investor Prosus in a deal worth about €4.1 billion, RTÉ reported today.
The investor published its intent to purchase the food delivery group through an all-cash offer fully supported by Just Eat's board.
Prosus – South African company Napsters is a majority owner of – is planning to offer €20.30 a share to buy the delivery giant as it aims to create a "European tech champion," the press release said.
The investor already owns a 28% stake in Just Eat rival Delivery Hero.
The offer comes after a difficult few years for Amsterdam-based Just Eat, which had enjoyed booming business during the pandemic when customers were ordering in.
However, it saw trading fall after the lockdowns ended.
CEO of the company Jitse Groen said, "Just Eat Takeaway.com is now a faster-growing, more profitable and predominantly European-based business.
"Prosus fully supports our strategic plans and its extensive resources will help to further accelerate our investment and growth across food, groceries, fintech and other adjacencies.
"We are looking forward to an exciting future together."
The company confirmed that it will keep its Amsterdam base and current name, as well as maintaining its key brands following the deal.
Just Eat Takeaway Posts 36% Growth In 2024 Core Profit
Meanwhile, Reuters reported a 36% rise in its annual core profit for Just Eat on improvement in the key UK and Ireland markets, the company said on Monday.
This was mainly due to the lower costs of fulfilling orders and more efficient marketing.
Groen said, “We advanced our products, further expanded our partner base, particularly in verticals like grocery, electronics and pharmacy.”
Europe’s biggest meal delivery firm said its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to €460 million in 2024, from €339 million a year earlier.
The company forecast constant currency growth of 4% to 8% in its gross transactional value (GTV) in 2025, excluding the Rest of the World segment.
It also sees adjusted EBITDA of between €360 million to €380 million and a free cash flow of about €100 million this year.
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