Just Eat acquired by Prosus for €4.1bn
Prosus acquires Just Eat’s entire issued share capital for €20.30 (£16.8) per share via a recommended all-cash public offer on the Amsterdam exchange
Global technology company Prosus has announced it has reached a conditional agreement to acquire Just Eat Takeaway for €4.1bn (£3.4bn) to create the fourth largest food delivery group globally.
Prosus acquires Just Eat’s entire issued share capital for €20.30 (£16.8) per share via a recommended all-cash public offer on the Amsterdam exchange. This represents a 49% premium to the 3-month VWAP as of 21 February 2025, and a 22% premium to Just Eat Takeaway.com’s highest share price over the last three months.
The acquisition provides an opportunity for Prosus to extend the leadership of an European food delivery platform, complementing its existing food delivery footprint outside of Europe.
Just Eat operates in 17 international markets, with leading positions in the majority of them. Across its markets, it connects 61 million customers with over 356,000 local partners. As one of Europe’s most recognised food delivery brands platforms, In 2024 it generated €26.3bn (£21.8bn) in GTV and delivered an adjusted EBITDA of €460m (£381m).
Prosus has a strong track record in food delivery outside of Europe, having invested more than $10bn (£7.9bn) globally. Today, Prosus’s food businesses span 70+ countries, serving 1m+ restaurants around the world. The current portfolio includes full ownership of iFood, Latin America’s leading food delivery platform.
Prosus also holds a 28% stake in Delivery Hero, a leading global food delivery company and an approximate 4% stake in Meituan, the world’s largest food delivery business, and a 25% stake in Swiggy, a leading food and grocery delivery platform in India.
Fabricio Bloisi, Prosus’s CEO, said: “We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion. Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships, and world-class logistics, powered by innovation and AI.
“We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway.com’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders.”
Just Eat Takeaway.com CEO Jitse Groen added: “Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business. Prosus fully supports our strategic plans, and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together.”