Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Just Eat buys FoodTech company Hungryhouse for £200M

FoodTech multinational Just Eat has purchased its erstwhile competitor hungryhouse from Delivery Hero for £200 million.

The acquisition will be mainly funded through cash and credit facilities, while an additional amount of £40 million could be paid depending on hungryhouse’s performance between the signing and the completion of the transaction.

It is understood that the move will help online food delivery colossus Just East reach more customers and take over hungryhouse’s partnerships with several restaurants across Britain.

Just Eat CEO David Buttress said in a statement: “The UK has long been an engine of growth for Just Eat. While we have significantly expanded internationally in recent years, we have remained focused on building a high growth, sustainably profitable business domestically.”

“Through this transaction, we would extend our market presence in the UK and sustain high levels of growth given the considerable opportunity in this market,” he added.

Delivery Hero CEO Niklas Östberg also commented: “The sale of hungryhouse to Just Eat rationalises our global footprint, and we remain focused on operating market leading brands, globally.

“Proceeds from this sale will allow us to pursue further global growth and profitability opportunities,” he said.

Just Eat has also just clinched a similar deal in Canada, where it bought food delivery service SkipTheDishes for £66 million.

Image via bit.ly/2hAO9q8

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