Just Eat Takeaway completes Grubhub’s sale to Wonder for $650M

After looking for a buyer more than two yearsEat Takeaway.com has finally shut down its Grubhub listing. On Tuesday, the Dutch food delivery giant said completed the sale of the US business to Wondera food startup founded and led by e-commerce veteran Marc Lore. The deal has an enterprise value of $650 million, but Grubhub comes with $500 million in debt. Adding in some M&A money, Just Eat Takeaway will walk away with just $50 million, a fraction of the $7.3 billion value Grubhub had when Just Eat Takeaway acquired it. sharing everything in 2020.

The sale, which was first announced in November 2024does it emphasize continuous decline – or positive growth? – in companies to focus on profitability after years of increasing revenue and unattainable growth targets. Just Eat Takeaway said it would focus on “investing in countries where it has the most competitive advantage.”

In Wonder’s case, Lore is a legend in e-commerce, who has previously founded and sold companies. Amazon and Walmart. Wonder has raised about $1.7 billion and has ambitions going public in the coming years at a cost of $40 billionLore said, but this means that the business will have to grow much larger than it is today. Grubhub is offering a nationwide segment – even one that has been operating with heavy debt for a long time. The problem will be whether Wonder can turn this around.