Just Eat Takeaway.com has agreed a takeover by a Dutch-based technology investor which says it wants to create a “European champion” for food delivery.
Prosus, which already has a 28% stake in global rival Delivery Hero, said its all-cash offer valued Just Eat at €4.1bn (£3.4bn).
It represented €20.3 euros per share on the Amsterdam exchange – a 22% premium on the highest value of its stock over the past three months.
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Just Eat said the offer was unanimously supported by its management and board.
Europe’s biggest meal delivery firm also confirmed that its current leadership would remain in place under the agreement while it would continue to be based in Amsterdam.
It made the announcement alongside annual results that showed a 35% rise in pre-tax profits during 2024 to €460m (£382m).
Just Eat said the performance was driven by an improvement in its key UK and Ireland market, mainly due to lower costs of fulfilling orders and more efficient marketing.
Prosus said of its Just Eat plans: “Its success within the United Kingdom, Germany and The Netherlands, has led to profitable, cash generative operations, with considerable growth potential, which Prosus intends to build upon.
“As a leading global food delivery investor and operator, with a proven track record in successfully scaling ecommerce platforms, Prosus is well positioned to invest in and accelerate growth at Just Eat Takeaway.com to unlock value beyond its standalone potential as a listed business.
“Prosus’s highly effective growth strategy at iFood, in Brazil, provides a ready guide to transform Just Eat Takeaway.com’s growth path through renewed focus across tech, product features, demand generation, offer quality and service.”
Fabricio Bloisi, its chief executive, added: “Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships, and world-class logistics, powered by innovation and AI.
“We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway.com’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders.”
