🚀 A Billion-Dollar Move
Just Eat Takeaway is being acquired by Prosus for €4.1B. The deal values Just Eat shares at €20.30, a 22% premium on recent prices. This comes after years of decline, with Just Eat's valuation peaking at €20B during the pandemic. In 2024, revenue fell to €5B, down from €5.1B in 2023. Despite cost-cutting efforts and layoffs affecting over 2K employees, the company still reported a €1.6B loss last year. Prosus, owned by Naspers, aims to turn things around.
📉 From Boom to Bust
Just Eat Takeaway's pandemic success faded fast. Its €6.9B Grubhub acquisition in 2021 turned disastrous, leading to a €621M resale in 2024. The company also dropped its London Stock Exchange listing to cut costs. Chairman Dick Boer believes Prosus' financial backing will secure Just Eat’s future. "Prosus’ resources will support long-term investments," he said. CEO Jitse Groen also sees this as a new growth opportunity.
🌍 Prosus' Global Play
Prosus has a history with Just Eat. In 2019, it made a failed €6.1B bid before Just Eat merged with Takeaway.com. Now, with investments in Delivery Hero (28%), Meituan (4%), and Swiggy (25%), Prosus strengthens its food delivery empire. CEO Fabricio Bloisi calls Just Eat "a European tech champion." The company plans to use AI, logistics, and strategic partnerships to scale operations.
📅 What's Next?
The acquisition still needs regulatory and shareholder approval. If cleared, Prosus will be one of the world’s biggest food delivery investors. Just Eat’s headquarters will stay in Amsterdam, and Groen’s leadership will continue. The deal signals more consolidation in the industry as companies push for profitability. Food delivery is evolving, and Prosus is betting big on Just Eat’s comeback.
Will Prosus turn Just Eat Takeaway into a food delivery powerhouse?
