Dutch tech conglomerate completes €4.1B takeover of Just Eat Takeaway in one of the sector's largest transactions to date
In a significant move for the tech industry, Prosus, the investment arm of South African tech firm Naspers, has agreed to acquire Just Eat Takeaway.com for €4.1 billion. This acquisition, if approved, will be one of the largest acquisitions of a Dutch tech company in history.
Just Eat Takeaway.com, a leading global online food delivery marketplace, was formed in 2020 through the merger of UK-based Just Eat and Dutch company Takeaway.com. The company reported a 35% jump in pre-tax profits for 2024, reaching €460 million, as announced alongside the deal.
The acquisition comes with Prosus' commitment to support Just Eat Takeaway's strategic plans and accelerate investments and growth. Prosus already owns iFood, Latin America's largest food delivery platform, and believes that the expertise in the delivery sector and AI technology brought by Prosus will bring further profits.
However, the acquisition is subject to shareholder approval and is currently undergoing regulatory reviews. To address regulatory concerns around market competition, particularly from the European Commission, Prosus has offered to significantly reduce or divest part of its stake in Delivery Hero, a major German food delivery firm. This divestment plan is central to gaining the necessary approvals and is currently under regulatory review.
The Amsterdam-based company, now one of the world's largest food delivery platforms, saw Just Eat Takeaway's shares climb 53% on the Amsterdam Stock Exchange this morning following the announcement. The acquisition price of €20.30 per share represents a 22% premium over the recent three-month high.
Jitse Groen, the company's CEO, said, "This acquisition makes our business faster growing, more profitable, and predominantly European-based." The current leadership of Just Eat Takeaway will remain in place under the agreement.
Prosus has stakes in Germany's Delivery Hero, Chinese shopping platform Meituan, and Swiggy, a grocery delivery app in India. The extension of the acceptance period of Prosus' public offer for Just Eat Takeaway shares until October 1, 2025, reflects the ongoing regulatory review process.
It is worth noting that Prosus attempted to hijack the merger of Just Eat and Takeaway.com in 2019 with a £5.1 billion (€6.1 billion) bid. Just Eat Takeaway has been both a speaker and partner at a conference on our website.
For those interested in learning more about Just Eat Takeaway, there is a special offer for a discount on tickets for their session at the our website Conference. Use the code ourwebsiteXMEDIA2025 at the checkout to get 30% off.
This acquisition is one of the biggest in Dutch tech history, following other significant buyouts such as T-Mobile Netherlands' €5.1 billion acquisition by Warburg Pincus and Apax Partners in 2021, and Mendix's €628 million purchase by Siemens in 2018.
Just Eat Takeaway.com, a leading global online food delivery marketplace, will benefit from Prosus' commitment to accelerate investments and growth, utilizing their AI technology and expertise in the delivery sector. The acquisition, if approved, will be one of the largest acquisitions of a Dutch tech company in history, aligning with other significant buyouts such as T-Mobile Netherlands' €5.1 billion acquisition by Warburg Pincus and Apax Partners in 2021.
