Landmark acquisition brings Talabat, foodpanda and HungerStation under Uber’s global umbrella
Uber Technologies has struck an agreement to purchase German food delivery giant Delivery Hero SE in a transaction that values the company at roughly €12.9 billion ($14.8 billion). The deal ranks among the largest ever seen in the food delivery space, arriving at a moment when the industry is undergoing rapid consolidation.
According to the agreement announced Thursday, Uber will pay €41.50 per share in cash, following reports circulating earlier in the week that a takeover was imminent.
The purchase hands Uber command over most of Delivery Hero’s worldwide operations, which stretch across 50 markets in Europe, the Middle East, Asia, Latin America and Africa. Delivery Hero’s portfolio includes several well-known food delivery brands such as Talabat, foodpanda and HungerStation. As part of the arrangement, Uber will also buy out the shareholding of Prosus NV, one of Delivery Hero’s biggest investors, which trades in Amsterdam.
A Separate Sale to Ease Regulatory Concerns
In a parallel move, investment firm SSW Partners will take over Delivery Hero’s businesses in 14 markets for approximately $1.6 billion. These operations, covering countries including Austria, Norway, Spain and Sweden, are slated to be sold off individually to other buyers down the line.
The reasoning behind carving out these 14 markets is that they represent regions where Uber Eats and Delivery Hero already compete head-to-head, making them the most vulnerable to antitrust review. Transferring them to SSW Partners is designed to clear the way for regulatory sign-off, with SSW eventually locating permanent owners for each business.
Notably, none of Delivery Hero’s Gulf operations fall under this divestment. That means Talabat—operating in the UAE, Bahrain, Kuwait, Oman, Qatar, Jordan, Egypt and Iraq—and HungerStation in Saudi Arabia will pass straight to Uber. Also moving directly to Uber are Delivery Hero’s Asian operations under foodpanda and its Latin American arm PedidosYa, though Chile and Ecuador are excluded.
The announcement landed just one day after Delivery Hero acknowledged on Wednesday that it was deep in talks with Uber over a possible takeover.
Months of Uncertainty Precede the Deal
The agreement caps a prolonged stretch of strategic turbulence at Delivery Hero. The company had been reassessing its direction under pressure from shareholders, among them hedge fund Aspex Management. That investor was instrumental in ousting founder and former chief executive Niklas Östberg, and had pressed the firm to sell assets and take other steps to lift shareholder returns.
Uber had already been steadily building its position in the company. Back in May, Delivery Hero revealed that Uber had lifted its stake to 19.5% of issued shares, along with options accounting for a further 5.6%. At that point, Delivery Hero characterized Uber’s growing investment as an endorsement of its platform and its Everyday App approach, while emphasizing it remained committed to sharpening operations and wrapping up its strategic review.
Industry Consolidation Gathers Pace
The takeover underscores the ongoing consolidation reshaping the global food delivery sector following its explosive growth during the Covid-19 pandemic.
As demand cooled after lockdowns ended, many delivery firms have wrestled with sluggish growth, intensifying competition and mounting pressure to turn a profit. Uber has leaned heavily on acquisitions to bolster its international delivery arm, and rivals have adopted comparable playbooks.
In the past year, DoorDash agreed to buy UK-based Deliveroo, while Prosus reached a deal to acquire Just Eat Takeaway.com—developments that have thinned the ranks of major independent delivery players worldwide.
Acquiring Delivery Hero markedly broadens Uber’s international reach, especially in emerging markets where Delivery Hero has established firm footholds through brands like Talabat, foodpanda and HungerStation. The transaction still hinges on customary closing conditions and regulatory clearances.
Reshaping the Delivery Landscape
The deal unites two of the largest technology platforms in ride-hailing and food delivery, granting Uber a considerably wider footprint spanning Europe, the Middle East, Asia, Latin America and Africa.
Over more than a decade, Delivery Hero has grown through both acquisitions and organic expansion, assembling a collection of local delivery brands rather than running under one unified global identity. Its most recognizable names include Talabat across the Middle East and North Africa, foodpanda throughout Asia, and HungerStation in Saudi Arabia.
For Uber, the acquisition strengthens its foothold in markets where its delivery presence had been thin, while trimming overlap in fiercely contested territories. The handoff of 14 markets to SSW Partners is expected to ease competition worries in certain jurisdictions and streamline the approval process.
The move also represents the latest chapter in Uber’s push to grow beyond ride-hailing into a wider platform encompassing food delivery, grocery delivery and other local commerce services—a strategy that has made Uber Eats one of the company’s biggest business segments in recent years.
