Prosus to Acquire Just Eat Takeaway in $4.3 Billion All-Cash Deal

Prosus, a European-listed subsidiary of South African tech giant Naspers, has announced plans to acquire Just Eat Takeaway.com, a leading food delivery company based in Amsterdam, for $4.3 billion in cash. The deal, which values Just Eat Takeaway shares at $22.02 each, represents a 49% premium over the company’s recent three-month average stock price. This move is seen as a major step by Prosus to strengthen its position in the global food delivery market.

Just Eat Takeaway, known for its operations across 17 countries, has been a significant player in the food delivery industry. In 2024, it reported an impressive gross transaction value of $28.5 billion and an adjusted EBITDA of $498 million. Despite its scale and reach, the company has faced challenges in recent years. For instance, it acquired U.S.-based Grubhub for $7.3 billion in 2020 but sold it last month for just $650 million—a steep loss that highlighted some of the hurdles it has encountered in the competitive food delivery sector.

The acquisition by Prosus is part of CEO Fabricio Bloisi’s broader strategy to diversify the company’s growth and reduce its reliance on earlier investments like Tencent Holdings, the Chinese gaming giant. Prosus already has a strong presence in the global food delivery space through its ownership of iFood, Latin America’s largest food delivery platform, and stakes in companies like Delivery Hero (28%), Meituan (4%), and Swiggy (25%). By adding Just Eat Takeaway to its portfolio, Prosus aims to expand its influence in Europe and solidify its position as one of the world’s largest players in food delivery.

In a statement on Monday, Prosus emphasized its vision for the future of Just Eat Takeaway under its ownership. “Prosus sees an opportunity to accelerate growth at Just Eat Takeaway, leveraging its strong industry experience to innovate and drive efficiencies,” the company said. If regulators approve the deal, it would create the fourth-largest food delivery group globally.

Fabricio Bloisi expressed optimism about the acquisition’s potential benefits for all stakeholders involved. “We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders,” he said.

The deal underscores Prosus’s confidence in the long-term growth potential of the food delivery industry despite recent challenges faced by some companies in this space. With this acquisition, Prosus aims to bring innovation and operational efficiencies to Just Eat Takeaway while leveraging its expertise from other markets around the world.

Just Eat Takeaway has been a well-known name in Europe for years but has struggled to maintain profitability amid intense competition from rivals like Uber Eats and Deliveroo. The backing of Prosus could provide much-needed resources and expertise to help it navigate these challenges more effectively.

For Prosus, this acquisition is not just about expanding geographically but also about consolidating its position as a leader in one of the fastest-growing sectors globally. Food delivery has become an essential service for millions of people worldwide, especially during and after the COVID-19 pandemic when demand surged dramatically.

If successfully completed, this deal will mark another milestone for Prosus as it continues to build a diverse portfolio of global technology investments. From owning stakes in major companies like Meituan and Swiggy to fully controlling iFood, Prosus has demonstrated a clear commitment to dominating the food delivery industry on multiple continents.

The announcement of this deal comes at a time when consolidation is becoming increasingly common in the food delivery sector as companies seek scale and efficiencies to compete more effectively. By acquiring Just Eat Takeaway for $4.3 billion, Prosus is making a bold move that could reshape the landscape of food delivery not only in Europe but around the world.

With regulators still needing to approve the transaction, all eyes will be on how this acquisition unfolds. If successful, it could pave the way for further growth and innovation at Just Eat Takeaway under Prosus’s leadership while reinforcing Prosus’s reputation as one of the most influential players in global food delivery.

Was this information useful? Drop a nice comment below. You can also check out other useful contents by following us on X/Twitter @siliconafritech, Instagram @Siliconafricatech, or Facebook @SiliconAfrica.