Just Eat Takeaway.com completes sale of Grubhub

Just Eat Takeaway.com N.V. (AMS: TKWY), hereinafter the “Company”, or together with its group companies “Just Eat Takeaway.com”, has completed the sale of Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder” and such sale, the “Transaction”).

The sale of Grubhub for an enterprise value of USD650 million has now been completed. Grubhub was transferred with its USD500 million of senior notes and, after customary adjustments and costs, net proceeds to the Company are expected to be up to USD50 million. Wonder has acquired all of the assets and assumed all of the material liabilities associated with Grubhub and there is no contingent element to the sale consideration.

On 13 November 2024, Just Eat Takeaway.com announced that it had entered into a definitive agreement to sell Grubhub to Wonder, following the Company’s prior announcements that it was actively exploring the partial or full sale of Grubhub. As previously announced, the Transaction increases Just Eat Takeaway.com’s ability to support investment in countries in which it has the greatest competitive advantage, improves Just Eat Takeaway.com’s GTV growth and free cash flow generation, and has a positive impact on Just Eat Takeaway.com’s capital structure and liquidity position.

Disclaimer

Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are, or may be deemed to be, forward-looking statements, including "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "anticipates", "expects", "intends", "may", or "will" or, in each case, their negative or other variations or comparable terminology, or, by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. Forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made, and the Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this press release. Readers are cautioned not to place undue reliance on such forward-looking statements.