Uber Eats to Purchase foodpanda Delivery Business in Taiwan from Delivery Hero

Uber Technologies, Inc. has announced its acquisition of Delivery Hero SE’s foodpanda delivery business in Taiwan for a whopping $950 million in cash. This deal, one of the largest-ever international acquisitions in Taiwan, is set to bring together the companies’ complementary merchant, delivery partner, and consumer bases into a single app, creating significant value for all parties involved.

The acquisition of foodpanda Taiwan is subject to regulatory approval and other customary closing conditions, with the target closing date set for the first half of 2025. Additionally, Uber has also agreed to purchase $300 million in newly issued ordinary shares of Delivery Hero as part of the deal.

Delivery Hero will continue to operate foodpanda Taiwan as usual until the closing, ensuring the best possible service for its customers and vendors. Following the completion of the acquisition, foodpanda’s local consumers, merchants, and delivery partners will be transitioned to Uber Eats.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, expressed his confidence in the deal, stating that the focus on other parts of their global footprint will allow foodpanda to thrive in Taiwan under Uber’s leadership.

The acquisition will combine Uber’s global marketplace expertise with foodpanda’s extensive coverage across Taiwan, offering consumers greater choice across food types and price points. This move is expected to drive more orders from merchants and create more earning opportunities for delivery partners.

Overall, this acquisition marks a significant investment by Uber in Taiwan and showcases the country’s attractiveness for international companies and investors. The deal is a testament to the potential growth and opportunities in the Taiwanese market for companies looking to expand their presence and offerings.