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Just Eat Weighs Grubhub Sale in Tough Food Delivery Market

  • Cuts orders forecasts as easing pandemic costs it customers
  • Shares have plunged as investors lose faith in strategy
A Grubhub delivery rider checks his phone in New York, U.S.

A Grubhub delivery rider checks his phone in New York, U.S.

Photographer: Cindy Ord/Getty Images

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Just Eat Takeaway.com NV said it’s considering a partial or full sale of its Grubhub unit less than a year after buying it for $7.3 billion, in a reversal that highlights how the end of the pandemic has turned the food delivery industry from a hot property into a struggling sector.

The Amsterdam-based company said in a statement Wednesday it’s exploring strategic actions for the U.S. division, just as it’s losing an unusually high level of customers across its key markets. Months after the transaction closed in June, Chief Executive Officer Jitse Groen said the business would be an important part of industry consolidation. A transaction has yet to materialize.