European food delivery company to buy Grubhub

Xinhua News,CHICAGO
2020-06-12 01:01

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CHICAGO, June 11 (Xinhua) -- Chicago-based Grubhub has agreed to be acquired by Just Eat, an Amsterdam-based food delivery company, in a 7.3-billion-U.S.-dollar deal.

The combined company, to be headquartered in Amsterdam and with a North American headquarters in Chicago, will become the largest online food delivery platform outside China, the Chicago Tribune reported on Wednesday.

Grubhub CEO and founder Matt Maloney will join Just Eat's board and lead the North American office, according to the report.

The deal needs to be approved by shareholders of each company, and is expected to close in the first quarter of 2021.

Grubhub, an American online and mobile food ordering and delivery marketplace that connects diners with local takeout restaurants, offers services in more than 4,000 cities in the United States. The company reported a loss of more than 33.4 million dollars in the first quarter of this year, compared with a 6.9-million-dollar profit in the year-ago period.

Just Eat operates in Europe, Canada, Mexico, Australia, Brazil, New Zealand and Israel. The company does not have a presence in the United States.
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