Uber takeover expands its delivery business with Talabat and HungerStation.
Dubai: Uber Technologies has agreed to acquire Germany’s Delivery Hero SE in a deal valued at approximately €12.9 billion ($14.8 billion), a landmark transaction that will bring food delivery platforms including Talabat and HungerStation into Uber’s global network as consolidation accelerates across the industry.
Under the agreement announced on Thursday, Uber will acquire Delivery Hero for €41.50 per share in cash, confirming reports that surfaced earlier this week.
The deal will give Uber control of most of Delivery Hero’s operations across 50 markets spanning Europe, the Middle East, Asia, Latin America and Africa. Delivery Hero’s portfolio includes several leading food delivery brands, such as Talabat, foodpanda and HungerStation, significantly expanding Uber’s global delivery footprint.
As part of the transaction, Uber will also acquire the stake in Delivery Hero held by one of its largest shareholders, Amsterdam-listed Prosus NV, further strengthening its ownership of the food delivery group.
Separate divestment
In a parallel transaction, investment firm SSW Partners will acquire Delivery Hero’s operations in 14 markets for around $1.6 billion. The businesses, which include operations in Austria, Norway, Spain and Sweden, will later be sold separately to other buyers.
The carve-out covers markets where Uber Eats and Delivery Hero have overlapping operations, making them the most likely to face antitrust scrutiny. Transferring these businesses to SSW Partners is intended to ease the regulatory approval process before they are ultimately divested.
The arrangement does not include Delivery Hero’s Gulf operations. As a result, Talabat (serving the UAE, Bahrain, Kuwait, Oman, Qatar, Jordan, Egypt and Iraq) and HungerStation (Saudi Arabia) will transfer directly to Uber under the acquisition, alongside Delivery Hero’s foodpanda businesses in Asia and PedidosYa operations in Latin America, excluding Chile and Ecuador.
The announcement comes a day after Delivery Hero confirmed it was in advanced talks with Uber over a potential takeover.
Strategic review
The takeover follows months of strategic uncertainty at Delivery Hero, which had been reviewing its business amid pressure from shareholders, including hedge fund Aspex Management. The investor successfully backed the departure of founder and former chief executive Niklas Östberg and had called on the company to pursue asset sales and other measures to enhance shareholder value.
Uber had already been building its stake in Delivery Hero. In May, the company disclosed that Uber had increased its holding to 19.5% of its issued share capital, along with options representing a further 5.6% stake.
At the time, Delivery Hero said Uber’s larger investment was “a further endorsement of its platform and Everyday App strategy,” while reiterating that it remained focused on strengthening operations and completing its strategic review.
Global consolidation
The acquisition underscores the ongoing consolidation of the global food delivery industry following the rapid growth seen during the Covid-19 pandemic.
As consumer demand normalised after lockdowns, many delivery platforms faced slower growth, intensifying competition and mounting pressure to improve profitability.
Uber has increasingly turned to acquisitions to expand its international delivery business, while rivals have followed similar strategies.
Last year, DoorDash agreed to acquire UK-based Deliveroo, while Prosus struck a deal to buy Just Eat Takeaway.com, further shrinking the number of major independent food delivery companies worldwide.
The acquisition of Delivery Hero will significantly strengthen Uber’s global delivery business, particularly across emerging markets where Delivery Hero has established leading positions through brands such as Talabat, foodpanda and HungerStation.
The transaction remains subject to customary closing conditions and regulatory approvals.
Deal reshapes delivery landscape
The deal brings together two of the world’s largest ride-hailing and food delivery platforms, giving Uber a much stronger presence across Europe, the Middle East, Asia, Latin America and Africa.
Over the past decade, Delivery Hero has expanded through a combination of acquisitions and organic growth, building a portfolio of well-established local brands rather than operating under a single global identity. Its flagship businesses include Talabat across the Middle East and North Africa, foodpanda in Asia, and HungerStation in Saudi Arabia.
For Uber, the acquisition expands its presence in markets where its delivery operations were previously limited, while reducing overlap in some of the industry’s most competitive regions. The carve-out of 14 markets to SSW Partners is expected to help address antitrust concerns and facilitate regulatory approval.
The transaction also advances Uber’s broader strategy of evolving beyond ride-hailing into a comprehensive local commerce platform. In recent years, the company has significantly expanded its offerings in food delivery, grocery delivery and other on-demand services, with Uber Eats emerging as one of its largest and fastest-growing business segments.
