Operations
Wonder acquiring Grubhub for $650M
November 13, 2024
Wonder, a digital food hall offering multi-restaurant ordering, is acquiring Grubhub from Just Eat Takeaway.com for $650 million, including $500 million of senior notes and $150 million cash. Completion is expected during Q1 2025, subject to customary closing conditions including regulatory approvals.
Founded by former Walmart CEO Marc Lore, Wonder also announced an additional $250 million in capital raised exclusively from new investors to further its mission and growth. It had previously raised over $1.5 billion.
"Wonder's acquisition of Grubhub continues our mission to make great food more accessible," Lore said in a company press release. " As we enhance our customer experience with selection, speed and variety, we're excited to soon offer a curated selection of Grubhub's restaurant partners directly in the Wonder app, alongside our owned and operated restaurants and meal kits. Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery."
Grubhub CEO Howard Migdal said he was excited about the merger.
"Since our earliest days, Grubhub has helped restaurants open their doors to new customers while introducing diners to new cuisines," he said in the release. "That's why I'm confident that Grubhub will complement Wonder's mission to make great food more accessible and that together we will create remarkable dining experiences for more customers across the country."
Wonder, which has 28 locations and will add seven by year's end, features offerings from well-known chefs, including Bobby Flay, Marcus Samuelsson and Jose Andres, and restaurants, such as Maydan, Tejas Barbecue, Di Fara Pizza and Fred's Meat and Bread.
Jefferies served as Wonder's exclusive financial adviser on the transaction.
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