Uber strikes 12.7 billion euro deal for Delivery Hero

Delivery Hero has agreed to be acquired by Uber in a 12.7 billion euro ($14.6 billion) deal, the German food delivery company said Thursday.

Founded in 2011, Delivery Hero operates in more than 60 markets and has grown into one of the world’s biggest food delivery groups. The company has also pushed into quick commerce, expanding from restaurant delivery into small-package deliveries.

Under the terms of the deal, Uber is offering 41.50 euros per share, valuing Delivery Hero at 12.7 billion euros. After the announcement, Delivery Hero shares were down 0.5% in Frankfurt at 37.9 euros.

“Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and quick commerce.”

Uber CEO Dara Khosrowshahi said the merger would:

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“extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers.”

The transaction splits Delivery Hero’s footprint between two buyers. Uber will acquire the company’s businesses in 50 markets across Asia, Europe, Latin America and the Middle East. SSW Partners, a U.S. investment firm, will acquire Delivery Hero operations in another 14 markets where the two companies compete, for around 1.4 billion euros.

Delivery Hero said its management recommends that shareholders accept the offer, and the deal is expected to close in the second half of 2027.