Just Eat Takeaway to Sell Grubhub at a Loss: Food Delivery Model Fails to Deliver Profits
Just Eat Takeaway, the European meal delivery giant, is selling its US subsidiary Grubhub to Wonder, a restaurant chain led by former Walmart executive Marc Lore, for $650 million. This divestiture comes four years after Just Eat acquired Grubhub for $7.3 billion, seeking to expand its reach into the lucrative US market. The sale marks a retreat for Just Eat, which faced pressure from investors following the decline in pandemic-fueled food delivery demand. Just Eat believes the deal will accelerate its growth and provide Grubhub with a suitable future under Wonder’s leadership. The transaction is expected to close in early 2025, subject to regulatory approval.
John Q. Hosedrinker