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Amazon joins forces with the delivery firm Grubhub and may acquire up to 15% of the capital

2022-07-06T19:41:44.671Z

The owner of the 'delivery' company, Just Eat, is still looking for buyers for its subsidiary in the US



Amazon has reached an agreement to include the food delivery company Grubhub in its offer of Prime services in the United States.

The e-commerce company also has the option to buy a stake ranging from 2% to 15%, as reported on Wednesday by the Dutch company Just Eat, which bought Grubhub in 2020 to create a

delivery giant.

and that he announced in April that he was willing to sell the entire company.

Doubts about Just Eat's ability to complete the sale of its business in the United States led the Dutch company to lose 16% on the stock market on June 29.

On the other hand, the titles, which have been falling 70% since January, rose more than 18% this Wednesday after learning of the agreement with Amazon.

As reported by Just Eat, the alliance contemplates a purchase option of 2% Grubhub by the e-commerce giant, whose Prime users will be able to use the home delivery application without paying commissions in a series of restaurants.

Amazon can increase this participation to 15% depending on the evolution of the business and if new clients are obtained.

Just Eat will continue to own Grubhub and, as indicated in a statement, will continue to seek buyers for the business, for which it paid 6.5 billion euros.

Just Eat Takeaway multiplied its losses by seven in 2021, to 1,044 million.

Between January and March 2022, Just Eat registered 264.1 million orders, which represents a decrease of 1% compared to last year.

By geographical area, orders in the United Kingdom and Ireland remained stable at 67.6 million, while in North America they fell by 5%, to 89.6 million, and in Northern Europe they reached 76.5 million, a 45 more.

In Southern Europe, Australia and New Zealand the number of orders fell by 4%, to 30.5 million.

“We are confident that this offer will expose many new diners to the value of Grubhub+ while generating more business for our restaurant partners and drivers,” said Adam DeWitt, CEO of Grubhub.

Source: elparis

All business articles on 2022-07-06

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