Grubhub shareholders approve acquisition by Just Eat Takeaway.com almost a year after entering into a definitive agreement

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Last year, Just Eat Takeaway and US-based food delivery app Grubhub entered into a definitive agreement. And now, shareholders of Grubhub Inc have approved the proposals necessary to complete the proposed acquisition by Just Eat Takeaway.com N.V. of 100 per cent of the shares of Grubhub in an all-stock transaction. 

The deal is expected to close on June 15, 2021.

“We are pleased that Grubhub stockholders overwhelmingly supported the recommendation of Grubhub’s board of directors on the pending combination with Just Eat Takeaway.com and voted in favor of the transaction,” says Matt Maloney, Grubhub’s founder and chief executive officer. “We thank our stockholders for their continued support and look forward to working with Just Eat Takeaway.com to complete this transaction.”

 Around €14B gross turnover

This takeover makes Just Eat Takeaway one of the world’s largest online food delivery companies, with a gross turnover of almost €14B. The deal is the fifth by the Dutch company in three years.

It is worth mentioning here that Just Eat Takeaway’s shareholders approved the $7.3B (approx €5.9B) acquisition deal in October. However, its shareholders rejected a pay package for Grubhub’s US CEO Matthew Maloney. Reportedly, Maloney was to have received a $745,000 (£577,000) base salary in 2021, with long-term stocks and options grants of up to 1,000 per cent of that amount as part of a long-term incentive plan.

Post the acquisition process, Jitse Groen, Takeaway founder, and CEO will head the newly merged Takeaway-Grubhub which will be based in Amsterdam. Notably, Matthew Maloney will head up its North American business.

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Just Eat Takeaway

Headquartered in Amsterdam, Just Eat Takeaway is one of the largest online food delivery marketplaces, outside China. It is focused on connecting consumers and restaurants through its platforms.

Just Eat Takeaway.com mainly collaborates with delivery restaurants. In addition, it provides its proprietary restaurant delivery services for restaurants that do not deliver themselves. It is connected with nearly 250,000 restaurants and operates in the United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Norway, Poland, Portugal, Romania, Spain, and Switzerland, as well as through partnerships in Colombia and Brazil.

Last month, the company announced that it would launch a supermarket delivery service in Germany via its Lieferando.de service. Besides, the company is looking to launch the same service in the UK and the Netherlands.

Grubhub

Based out of Chicago, Grubhub is an online and mobile food ordering and delivery marketplace dedicated to connecting diners with local restaurants. The company features over 300,000 restaurants in over 4,000 US cities. 

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