The sale of Grubhub to Wonder will increase the cash generation capabilities of Just Eat Takeaway.com and will accelerate our growth. This deal delivers the right home for Grubhub and its employees.
Just Eat had been looking to offload its US unit since as early as 2022, as the pandemic-fuelled boost to online food shopping faded and it grappled with tough competition.
Just Eat's efforts to enter the lucrative US food delivery market with Grubhub resulted in a $7.3bn deal, but investor pressure escalated as pandemic-era demand dwindled.
With Grubhub's sale, Just Eat's shares, which are trading about 90% lower than their peak in October 2020, hint at the significant challenges faced in the food delivery sector.
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