Takeaway.com has acquired the Benelux businesses of Just Eat is a cash deal worth EUR22.5 million, of which 80 per cent was paid on completion and 20 per cent will be paid six months after completion, subject to the satisfaction of certain obligations.
Jitse Groen, CEO and founder of Takeaway.com, says: “We are pleased to acquire the Benelux businesses of Just Eat. These activities are complementary to our operations and will further strengthen our leading positions in Continental Europe”.
Takeaway.com is already active in the Netherlands with Thuisbezorgd.nl and in Belgium with Pizza.be. The company will merge the acquired businesses into one player to further support growth and profitability. Customers and restaurants will be able to access the added businesses through Takeaway.com’s highly scalable global technology platform.
Groen says: “Takeaway.com strives to further enhance its competitive position in each of the 11 markets it operates in. This transaction should be seen in that context.”
David Buttress, CEO of Just Eat, says: “We have always been clear that the competitive dynamics of our industry demand clear market leadership to drive sustainable profitability. The disposal of our Benelux business, where we are number two, delivers on that strategy and comes at the right time for Just Eat. We are the clear leader in our remaining 12 markets and it is appropriate that our time and resources are focused on building on the strong growth we are seeing across those businesses in future.