Jan 10 (Reuters) - The takeover by Dutch food delivery company Takeaway.com of its British peer Just Eat is set to create the world’s biggest online food delivery company outside China.
Here’s an overview of what the merged company, called Just Eat Takeaway.com NV, will look like:
Just Eat Takeaway.com will be active in 23 countries around the globe, covering Europe -- from Poland to Portugal and from Norway to Italy -- while also catering to Canada, Israel, Australia and New Zealand.
Just Eat or Takeaway is currently the market leader in terms of orders in 15 of these countries, including Canada, the United Kingdom, Germany and the Netherlands.
The merged company plans to exit the Latin American market, as it will look to sell Just Eat’s 33% stake in iFood, which runs the leading food delivery platforms in Brazil, Colombia and Mexico.
Partnering with over 155,000 restaurants, the companies together processed almost 355 million orders in 2018, with a total value of 7.3 billion euros ($8.1 billion).
According to Takeaway’s calculations this beats rivals Uber Eats (6.7 billion euros) and Delivery Hero (4.5 billion euros) and is second only to China’s Meituan (36.2 billion euros).
Total revenues of the two companies combined were 1.2 billion euros in 2018.
Just Eat generated an operating profit (EBITDA) of 214 million euros in the UK in 2018, while Takeaway made a core profit of 53 millions euros in the Netherlands.
The companies’ other operations ran at a loss, but Takeaway has said it expects the German market to become as profitable as the Dutch over time. The companies expect their merger to ultimately lead to 20 million euros in annual cost savings.
The new company will be led by Dutchman Jitse Groen, who founded Takeaway.com in 2000 and has remained its Chief Executive Officer throughout the years. Groen currently holds 25% of Takeaway’s shares.
Current Just Eat chairman Mike Evans will take on the role of chairman of the supervisory board.
Just Eat Takeaway.com will be headquartered in Amsterdam, and will be listed on the London Stock Exchange. ($1 = 0.9014 euros) (Reporting by Bart Meijer and Toby Sterling Editing by Keith Weir)
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