U.S. ride-hailing and delivery giant Uber has agreed to acquire German food delivery company Delivery Hero in a deal valued at €12.7 billion ($14.6 billion), marking one of the largest acquisitions in the global food delivery industry.
The companies announced the agreement on Thursday, with Uber offering €41.50 per share for the Berlin-based firm. Despite the premium offer, Delivery Hero’s shares dipped 0.5 percent in Frankfurt trading to €37.90 following the announcement.
Founded in 2011, Delivery Hero has become one of the world’s leading food delivery companies, operating in more than 60 markets across Asia, Europe, Latin America and the Middle East. The company has also expanded its business into quick commerce, providing rapid delivery of groceries and other everyday consumer goods.
Under the terms of the agreement, Uber will acquire Delivery Hero’s operations in 50 markets worldwide. Meanwhile, U.S. investment firm SSW Partners will take over the company’s businesses in 14 additional markets where Delivery Hero and Uber currently compete, in a transaction valued at approximately €1.4 billion.
Delivery Hero Chief Executive Officer and co-founder, Niklas Östberg, described the deal as a strategic partnership that would strengthen the company’s long-term growth by combining its regional expertise with Uber’s global delivery network.
“Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and quick commerce,” Östberg said.
Uber Chief Executive Officer Dara Khosrowshahi said the acquisition would significantly expand the company’s global delivery footprint while creating new opportunities for merchants and delivery partners.
“A merger would extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” Khosrowshahi said.
Delivery Hero’s management has unanimously recommended that shareholders approve the takeover offer. The companies said the transaction remains subject to shareholder approval and regulatory clearances and is expected to be completed in the second half of 2027.