Just Eat gobbles up Hungry House for £200m
15 December 2016
- From the section Business
Online food delivery service Just Eat is buying rival Hungry House for £200m.
Just Eat, which began in Denmark in 2001 but is now based in London, operates in 13 countries, including the UK and Brazil.
Just Eat and its rivals, such as Uber and Deliveroo, have expanded the food home delivery market and are battling for market share.
They use delivery systems and drivers to connect restaurants that do not typically deliver food with customers.
Just Eat said the acquisition would help accelerate growth and increase its presence in all of its markets.
The deal needs approval from the Competition and Markets Authority.
David Buttress, chief executive of Just Eat, said: “Through this transaction, we would extend our market presence in the UK and sustain high levels of growth given the considerable opportunity in this market.”
Just Eat is also buying a business in Canada, SkipTheDishes, for £66m.
Shares in Just Eat rose 2.6% to 615p, valuing the company at £4.15bn. The stock has risen 24% this year.
This post was written by FSB News