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After looking for a buyer formore than two years , Just Eat Takeaway.com has ultimately closed the carte on Grubhub . On Tuesday , the Dutch food bringing giant say itcompleted the sale of the U.S. business to Wonder , the food inauguration plant and led by e - commerce veteran Marc Lore . The slew has an enterprise value of $ 650 million , but Grubhub is come oppressed with $ 500 million of debt . bestow in other M&A fee , Just use up Takeaway will be walk away with a simple $ 50 million , a little fraction of the $ 7.3 billion valuation that Grubhub had when Just Eat Takeaway gobbled it up in anall - share deal in 2020 .
The sale , which was first announced inNovember 2024 , underscore the ongoing downsizing — or right - size ? — in the industry to focalize more on profitability after old age of overinvestment and unrealistic ontogeny target . Just Eat Takeaway says it will twist its nidus toward “ investment in countries in which it has the greatest competitive advantage . ”
In the case of Wonder , Lore is somewhat of a legend in the world of e - Department of Commerce , antecedently constitute and sell fellowship toAmazon and Walmart . Wonder has raise around $ 1.7 billion and has dream togo public in the coming old age at a $ 40 billion rating , Lore has said , but that will mean that the business has to grow considerably beyond what it is today . Grubhub give it a internal step — albeit one that has been operating with heavy debt for some sentence . The challenge will be whether curiosity make out to finally turn that around .
