Uber to acquire Foodpanda parent Delivery Hero in $14.8 billion deal

Uber has agreed to acquire Germany-based Delivery Hero, the parent company of foodpanda, in a deal valuing the company at USD 14.8 billion, creating the world's largest food-delivery platform outside China and strengthening the ride-hailing company's position against rivals DoorDash and Just Eat.

The transaction has direct implications for Pakistan, where foodpanda is one of the country's leading food and grocery delivery platforms.

According to Reuters, the agreement announced Thursday combines Uber's ride-hailing and delivery operations with Delivery Hero's global network, creating a platform operating in 99 countries with a combined gross merchandise value of USD 236 billion in 2025.

Uber is offering EUR 41.50 per share for Delivery Hero, representing about a 34% premium over the company's three-month average share price. Delivery Hero's management and supervisory boards have backed the offer, while Uber has set a minimum acceptance threshold of 50% plus one share. The transaction is expected to close in the second half of 2027.

To address antitrust concerns in markets where Uber Eats and Delivery Hero compete directly, Delivery Hero will sell operations in 14 countries to U.S. investment firm SSW Partners for about EUR 1.4 billion. Major shareholder Prosus has also agreed to sell its nearly 17% stake in Delivery Hero as part of commitments made to European regulators during its acquisition of Just Eat Takeaway.

Analysts said regulatory approval could take time because of the deal's size and overlapping markets, making the approval process likely to be lengthy.

Delivery Hero had previously rejected a lower offer from Uber disclosed in May that valued the company at about EUR 10 billion. Its shares have risen 62% this year amid expectations that Uber would submit an improved bid.

The acquisition marks the latest phase of consolidation in the global food-delivery industry following the end of the pandemic-driven boom and increasing pressure on companies to improve profitability. Uber previously acquired Postmates, DoorDash bought Wolt and Deliveroo, Just Eat merged with Takeaway.com and acquired Grubhub, while Delivery Hero expanded through acquisitions including Glovo and foodpanda.

If completed, the deal would leave Uber and DoorDash as the two dominant food-delivery companies outside China.