Just Eat Takeaway sells off struggling U.S. business Grubhub

Meal delivery company Just Eat Takeaway has completed the sale of its US subsidiary, Grubhub, to industry peer Wonder. The Dutch-British company sold GrubHub in 2021 for 7.3 billion dollars, but this deal then proved to be a huge burden for Just Eat Takeaway. The sale will net the parent company of Thuisbezorgd.nl 50 million dollars.

Investors were relieved when Just Eat Takeaway announced the sale of GrubHub, on which billions of dollars had to be written off. Divesting the US business is expected to free up more money for investments in markets where Just Eat Takeaway has a stronger position.

Just Eat Takeaway bought GrubHub during the peak in online food orders during the Coronavirus Pandemic. When lockdown measures to curb the spread of the virus ended, orders for the American company also fell.

That led to a significant drop in value for Grubhub, which also had to deal with fierce competition and a legal cap on the commissions that delivery companies could charge in New York.