Naspers’ European-listed subsidiary Prosus has agreed to amass Amsterdam-based Simply Eat Takeaway.com for $4.3 billion, a transfer that strengthens its place within the international meals supply trade.
The all-cash supply of $22.02 per share represents a 49% premium to Simply Eat’s three-month volume-weighted common value, Prosus mentioned in a press release Monday. The inventory closed at $13.48 on Friday.
The deal is a part of Prosus CEO Fabricio Bloisi’s broader technique to diversify progress past the corporate’s early funding in Chinese language gaming large Tencent Holdings Ltd.
“Prosus sees a chance to speed up progress at Simply Eat Takeaway, leveraging its robust trade expertise to innovate and drive efficiencies,” the corporate mentioned.
If authorized by regulators, the acquisition would create the world’s fourth-largest meals supply group.
“We imagine that combining Prosus’s robust technical and funding capabilities with Simply Eat Takeaway’s main model place in key European markets will create important worth for our prospects, drivers, companions, and shareholders,” Bloisi mentioned within the assertion.
Prosus has constructed a formidable international portfolio in meals supply, significantly exterior Europe. It absolutely owns iFood, Latin America’s largest meals supply platform, and holds a 28% stake in Supply Hero, a world supply firm. It additionally owns 4% of Meituan, the world’s largest meals supply enterprise, and 25% of Swiggy, an Indian meals and grocery supply platform that lately went public.
Simply Eat was established in 2020 after the British firm Simply Eat merged with its Dutch competitor Takeaway.com. In 2019, Prosus tried to take over Simply Eat with a £5.1 billion bid, however was unsuccessful. The merged firm ultimately turned a part of London’s FTSE 100 index and was valued at £15 billion for some time. Simply Eat’s time as a publicly traded firm has been rocky. Its worth shot up in the course of the pandemic as lockdowns led to a increase in meals supply providers. Nevertheless, this progress was short-lived, and the corporate is now coping with the implications of some unhealthy investments.
Simply Eat Takeaway operates in 17 nations. In 2024, the corporate reported a gross transaction worth of $28.5 billion and an adjusted EBITDA of $498 million . Simply Eat acquired U.S.-based Grubhub for $7.3 billion in 2020 however offloaded it final month for simply $650 million.
Editor’s notice: This text has been up to date with further details about Simply Eat.