Deals

Takeaway to Buy Delivery Hero's German Unit for $1 Billion

Acquisition is largest in online food delivery space in Europe
The deal ends expensive rivalry in region’s biggest economy

The company’s headquarter offices in Berlin.
Photographer: Krisztian Bocsi/Bloomberg

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By Wout Vergauwen and Stefan Nicola

December 21, 2018 at 6:34 AM UTC

Updated on

December 21, 2018 at 4:37 PM UTC

This article is for subscribers only.

Takeaway.com NV agreed to acquire the German businesses of Delivery Hero SE for approximately 930 million euros ($1 billion), ending an expensive rivalry in a country where both were competing for market share at the cost of profitability.

Amsterdam-based Takeaway is paying approximately 508 million euros in cash and the rest in equity for Delivery Hero’s Pizza.de, Lieferheld and Foodora businesses in Europe’s biggest economy -- the largest deal so far in food delivery in the region. Delivery Hero is also acquiring an 18 percent stake in its Dutch rival, it said in a statement Friday.