New major delivery deal: DoorDash to buy Deliveroo for €3.393 billion
The British company ceased operations in Spain shortly after the passage of the Rider law.
BarcelonaThe American food delivery company DoorDash will acquire its British competitor Deliveroo for €3.393 billion, the latter company announced in a statement sent to the London Stock Exchange. San Francisco-based DoorDash had already made a proposal to acquire all of Deliveroo's shares last month and will pay 210 cents in cash for each share.
The transaction, which the British company recommends to its shareholders, will create a new delivery giant with a presence in 40 countries and that will handle approximately €79.2 billion in orders per year. "The merger with Deliveroo will strengthen DoorDash's position as a leading global platform for local commerce, allowing the combined entity to better serve businesses, consumers, and delivery drivers," the statement explains.
The US firm, which is seeking to expand into international markets, has emphasized that the multi-million dollar deal is final and that it will not improve its financial proposal. Deliveroo, founded in 2013 by Will Shu and Greg Orlowski, works with approximately 176,000 restaurants, supermarkets, and retailers worldwide. However, one of the countries where it does not operate is Spain. from where he left shortly after the approval of the rider law.
On April 24, the last business day before the start of the offering period, Deliveroo's market capitalization was €2.574 billion. DoorDash, meanwhile, is present in more than 30 countries and, since its launch in 2013, has expanded its platform to serve more than 42 million users. The American app was one of the first to break into this market and, in fact, served as inspiration for European entrepreneurs such as Glovo founder Oscar Pierre, who imported this model to Catalonia.
More mergers
Beyond the legal disputes over the conditions of its delivery workers, this sector is characterized by increasing concentration. Last February, the Just Eat platform, which was the protagonist of another macro-operationThe investment arm of South African technology company Naspers, Prosus, announced the acquisition of the Dutch delivery company for €4.1 billion. Furthermore, Naspers already owns 28% of German company Delivery Hero.owner of Glovo since 2022