Prosus moves to acquire Amsterdam-based Just Eat Takeaway in €4.1B deal: All you need to know

On Monday, Prosus, a global consumer internet group, announced that it has reached a conditional agreement to acquire Amsterdam-based Just Eat Takeaway, creating the world’s fourth-largest food delivery group.

Prosus intends to acquire all outstanding shares of Just Eat Takeaway.com for €20.30 per share, totaling around €4.1B.

The price—€20.30 per share in cash represents a premium of 63 per cent to the Company’s closing share price on 21 February 2025, and a 49 per cent premium over the 3-month VWAP.

Just Eat Takeaway.com board members, including CEO Jitse Groen, have agreed to sell their shares in the upcoming offer, which accounts for about 8.1 per cent of the total shares.

Prosus will fully finance the transaction using its available funds.

The transaction is subject to customary conditions, including regulatory approvals. It is expected that settlement will take place by the end of the year.

“Just Eat Takeaway.com is now a faster-growing, more profitable, and predominantly European-based business. Prosus fully supports our strategic plans and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech, and other adjacencies. We are looking forward to an exciting future together,” says Jitse Groen, CEO and founder of Just Eat Takeaway.com.

The Amsterdam company operates in 17 international markets, with leading positions in the majority of them. In these markets, it connects 61 million active users with more than 356,000 local partners.

In 2024, it generated €26.3B in GTV, (€18.9 billion excluding Grubhub) and delivered an adjusted EBITDA of €460M, (€313M excluding Grubhub).

How did this acquisition benefit Prosus?

This acquisition offers Prosus a chance to strengthen its presence in the European food delivery market, complementing its existing operations outside of Europe.

Just Eat Takeaway.com’s success in the United Kingdom, Germany, and the Netherlands, has led to profitable, cash-generative operations, with considerable growth potential, which Prosus intends to build upon

Prosus has experience as a global investor and operator in food delivery, which positions it to help Just Eat Takeaway.com grow and improve its value.

The strategies used at iFood in Brazil provide a framework for enhancing Just Eat Takeaway.com’s growth by focusing on technology, product features, demand generation, and service quality.

Additionally, Prosus’ AI capabilities have played a key role in iFood’s success, improving operations and customer experiences.

There are similar opportunities at Just Eat Takeaway.com to enhance both customer and driver experiences, improve reliability, and optimize logistics.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. It invests in over 100 companies around the globe, focusing on building strong e-commerce leaders in growing markets.

The company has invested more than $10B in food delivery, showing a strong commitment to this industry. Its food delivery businesses operate in more than 70 countries and serve over 1 million restaurants.

The company fully owns iFood, the top food delivery service in Latin America.

It also has stakes in several major companies: 28 per cent in Delivery Hero, around 4 per cent in Meituan (the largest food delivery company in the world), and 25 per cent in Swiggy, India’s leading food and grocery delivery platform.

“We are excited that Just Eat Takeaway will join the Prosus Group and have the opportunity to create a European tech champion. Prosus already has a significant food delivery portfolio outside of Europe and a proven track record of delivering profitable growth through investments in customer and rider experience, restaurant partnerships, and logistics, powered by innovation and AI. By bringing together Prosus’ technical and investment expertise with Just Eat Takeaway’s leading brand position in key European markets, we will create significant value for customers, riders, partners, and shareholders,” says Prosus CEO Fabricio Bloisi.