Just Eat Takeaway completed the acquisition of Grubhub for $7.8 billion in June 2021. But now, orders in the US has dropped.
Just Eat Takeaway, an Amsterdam-based food delivery company, said today (pdf) it is thinking of selling Grubhub, its US division, after completing a deal to buy it for $7.3 billion last June. The potential sale highlights the challenges of the US food delivery market as the pandemic delivery boom slows.
The company said the number of orders has fallen, with the steepest drop coming from the US (pdf). Just Eat Takeaway CEO Jitse Groen said in March that profitability in the US is restrained by government-imposed fee caps. Grubhub said it lost more than $100 million in the US from fee caps in 2020.
The challenges for delivery
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