Berlin-based online food takeaway service Delivery Hero Holding GmbH has acquired online marketplace for food delivery foodpanda for an undisclosed amount. In exchange for all its shares in foodpanda, Rocket Internet SE received newly issued shares in Delivery Hero increasing its stake in Delivery Hero to 37.7 per cent on a fully diluted basis, Rocket Internet said in a statement.
“The transaction strengthens Delivery Hero’s global leadership position in online food ordering and delivery, with the combined group processing over 20 million orders per month across 47 countries,” it added. Both Foodpanda and Delivery Hero are backed by Rocket Internet.
Furthermore, the combination of the 2 key companies leads to a significant reduction of complexity at group level for Rocket Internet, the statement said. Commenting on the development, Rocket Internet CEO Oliver Samwer said: “The combination of foodpanda and Delivery Hero, one of our most important companies, further consolidates key markets resulting in significantly improved market positions.”