Just Eat Sells IFood Stake to Prosus for $1.8 Billion

Just Eat Takeaway.com NV agreed to sell its 33% stake in Latin American joint venture iFood to Prosus NV for as much as 1.8 billion euros ($1.8 billion). The deal fulfills a pledge to investors and will bolster Just Eat’s balance sheet, albeit at a price below a previous offer for the shares. The company …

SELLING A SHARE IN BRAZIL’S IFOOD FOR “UP TO” $1.8 BILLION IS JUST EAT TAKEAWAY

Just Eat Takeaway, a European food delivery and ordering behemoth, has announced that it would sell its investment in Brazil’s iFood to Prosus for up to €1.8 billion ($1.8 billion). A total of €1.5 billion in cash is on the table for the first deal, with an additional €300 million contingent on iFood’s success over …

ParTech Acquires Menu Technologies

ParTech, a restaurant and retail point-of-sale provider for enterprise restaurants, has acquired Menu Technologies, an omnichannel ordering platform for international restaurant brands. According to Par, based in New Hartford, New York, the Menu acquisition adds an online ordering component to its existing suite of commerce solutions and better position the organization as one of the …

Walmart to buy its gig-labor management partner

Dive Brief: Walmart is buying Delivery Drivers Inc. (DDI), the gig-labor management company that is the partner for the retailer’s Spark Driver platform, a Walmart spokesperson said in an email. The acquisition is for an undisclosed amount, according to Insider, which first reported the news. The acquisition of DDI aims to streamline the driver experience with …

Grubhub CEO: A strong partnership is preferred as company mulls future

Grubhub’s parent company Just Eat Takeaway continues to seek out strategic partnerships as a way to improve its U.S. business.  “The CEO Jitse [Groen] of Takeaway has been very vocal about, ‘Hey my preference is to have a strong partner and continue to have ownership in Grubhub,’” Grubhub CEO Adam DeWitt said Thursday during Wall Street Journal’s Global Food Forum. “A sale …

Just Eat Takeaway plunges to record low as analyst casts doubt on Grubhub sale

– Sale of US firm Grubhub could net less than one-seventh of purchase price – Facing enormous competition in many of its markets – Share price down 67% this year to record low Shares in Just Eat Takeaway (JET) plunged in morning trading after Berenberg initiated coverage of the online food delivery platform with a sell rating, casting doubts …

Troubled Grubhub’s Parent Company Seeks Investment Partner: WSJ

Dutch multinational online food ordering and delivery company Just Eat Takeaway.com NV TKAYF is hit by doubts about whether it can sell its U.S. operation, Grubhub Inc. As per Wall Street Journal, Grubhub CEO Adam DeWitt said the company’s parent hopes to find a strategic partner, though a divestiture cannot be ruled out. In some of his first public …

Just Eat US subsidiary Grubhub signs deal with Amazon

Online giant Amazon will take a stake in Just Eat Takeaway’s US subsidiary Grubhub, in a deal which will also give free food deliveries for Amazon’s US customers. Starting today, Amazon Prime subscribers in the States will also get a free Grubhub+ membership for a year. It means they will not have to pay for …

Apollo Among Possible Suitors for Just Eat’s Grubhub

Just Eat Takeaway.com NV’s US unit Grubhub is attracting preliminary interest from private equity firms including Apollo Global Management Inc., according to people with knowledge of the matter.  New York-based Apollo is among possible suitors evaluating the business, the people said, asking not to be identified because the information is private. Just Eat Takeaway may struggle to get …

Grubhub co-founder said to have considered buying back the company from Just Eat Takeaway

Grubhub co-founder Matt Maloney was said to work with private equity firm General Atlantic to consider buying the food delivery outfit back after he sold it to Just Eat Takeaway (OTC:JTKWY) for $7.3 billion last year. Maloney decided against purchasing the company earlier this year, according to a Sunday Times report, citing unidentified sources. The 60% drop in …