Startup led by ex-Walmart executive nears deal to buy Grubhub, WSJ reports
8:57 pm Tuesday, November 12th, 2024
(Reuters) -Wonder, a food-delivery startup led by former Walmart executive Marc Lore, is in advanced talks to buy Grubhub from Amsterdam-based Just Eat Takeaway.com, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The European company had acquired Grubhub in 2020 in an all-stock deal for $7.8 billion, creating the world’s largest food delivery company outside China at the time.
A deal for Grubhub could be finalized imminently, assuming the talks do not fall apart, the report said, adding that Grubhub is likely to be valued below $1 billion in any deal.
Buying Grubhub could lift Wonder’s revenue and offer a direct source delivery drivers and related technology, the report said.
Grubhub, Just Eat Takeaway and Wonder did not immediately respond to Reuters requests for comment.
(Reporting by Aishwarya Jain; Additional reporting by Arasu Kannagi Basil and Christy Santhosh in Bengaluru)
