Delivery Hero sold to Uber for $14.8 billion in deal that reshapes global food delivery

Germany’s Delivery Hero has agreed to sell itself to Uber in a deal that values the company at $14.8 billion in equity, the two companies confirmed on Thursday.

Once completed, the tie-up will create the largest food-delivery group operating outside China, combining Uber’s global ride-hailing and delivery network with Delivery Hero’s presence across Europe, Asia and the Middle East.

Uber has described the acquisition as a way to compete more effectively with Just Eat, owned by Dutch group Prosus, and US-based DoorDash, both of which have been expanding aggressively in food delivery.

Uber CEO Dara Khosrowshahi said the combined business would let Uber offer both mobility and delivery services in far more countries at once: ‘Together, we’ll nearly double the number of markets where we offer both mobility and delivery services.’

The acquisition is conditional on Uber securing acceptance from at least 50% plus one share of Delivery Hero, with the transaction expected to be completed in the second half of next year.

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