Uber to acquire German food delivery giant Delivery Hero

The US ride-hailing giant Uber is set to acquire German food delivery company Delivery Hero for a substantial sum, reportedly close to 13 billion euros. Delivery Hero confirmed the agreement to merge with the American corporation, which has offered 41.50 euros per share.

Delivery Hero, headquartered in Berlin, is a major player in the global food delivery market. Its operations span across Asia, Southern Europe, the Arabian Peninsula, and Africa, making it one of the largest food delivery services worldwide. However, the company is no longer active in Germany, having sold its domestic business to Just Eat Takeaway.

Uber itself operates its own food delivery service, Uber Eats, which is present in numerous German cities. The acquisition is expected to significantly bolster Uber's position in the food delivery sector, particularly in the international markets where Delivery Hero holds a strong presence.

This deal underscores the ongoing consolidation within the food delivery industry, as major players seek to expand their market share and operational reach through strategic acquisitions. The transaction is subject to customary closing conditions and regulatory approvals.