Naspers unit Prosus has reached a conditional agreement to acquire Netherlands-based online food ordering and delivery company Just Eat Takeaway.com for €4.1 billion (R79 billion).
In a statement, Prosus says it intends to acquire Just Eat Takeaway.com’s entire issued share capital for €20.30 (R390) per share, via a recommended all-cash public offer on the Amsterdam exchange.
According to Prosus, this represents a 49% premium to the three-month volume-weighted average price as of 21 February 2025, and a 22% premium to Just Eat Takeaway.com’s highest share price over the last three months.
“We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion,” says Fabricio Bloisi, Prosus CEO.
“Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships and world-class logistics, powered by innovation and AI [artificial intelligence].
“We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway.com’s leading brand position in key European markets will create significant value for our customers, drivers, partners and shareholders.”
Just Eat Takeaway.com CEO Jitse Groen adds: “Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business. Prosus fully supports our strategic plans, and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together.”
Prosus explains that acquiring Just Eat Takeaway.com provides an opportunity to extend the leadership of a strong European food delivery platform, complementing its existing food delivery footprint outside of Europe.
The Naspers unit says it is well-positioned to invest in and accelerate growth at Just Eat Takeaway.com to unlock value beyond its standalone potential as a listed business.
Prosus notes it has a strong track record in food delivery outside of Europe, having invested more than $10 billion globally in driving the category’s momentum and success.
Today, it adds, Prosus’s food businesses span over 70 countries, serving one million restaurants around the world.
The current portfolio includes full ownership of iFood, one of Latin America’s leading food delivery platforms.
Prosus holds a 28% stake in Delivery Hero, a global food delivery company, and an approximate 4% stake in Meituan, a food delivery business.
It also holds a 25% stake in Swiggy, a food and grocery delivery platform in India, which recently completed a successful initial public offering in that country.
Just Eat Takeaway.com operates in 17 international markets, and connects 61 million customers with over 356 000 local partners.
In 2024, it generated €26.3 billion in gross transaction value, says Prosus.
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