Delivery Hero, a Berlin-based online food takeaway service has just announced that they have acquired FoodPanda for an undisclosed amount. Rocket Internet, the company which backs both start-ups said in a statement that they will be receiving new shares in Delivery Hero in lieu of their stake in FoodPanda raising their stake to 37.7 percent.
This would enable Delivery Hero to establish a strong position in the food ordering and delivery space in key markets spread over 47 countries processing 20 million orders a month. Commenting on the acquisition, Rocket Internet CEO Oliver Samwer said:
The combination of Foodpanda and Delivery Hero, one of our most important companies, further consolidates key markets resulting in significantly improved market positions. Delivery Hero is also acquiring new markets with leading market positions further broadening its geographic footprint.
Niklas Östberg, Delivery Hero´s CEO added:
Foodpanda has built a fantastic position and service offering in some of the largest food delivery markets globally. We look forward to working with the team to continue creating unparalleled takeaway experiences for our customers around the world.
The transaction is expected to close before the end of the year, 31st December 2016.
Source: Rocket Internet