Takeaway.com already has a presence in Belgium, the Netherlands and Luxembourg.
Online food delivery company Just Eat has agreed to sell its businesses in the Netherlands and Belgium to rival Takeaway.com.
The value of the transaction, it said, is €22.5 million in cash, which will be paid in two instalments: 80% of the total purchase price will be paid on completion and the remaining 20% will be paid six months after completion, subject to certain obligations being met.
The move will allow Just Eat to focus on markets where it has a more dominant position, as the company’s CEO explained.
David Buttress said: “We have always been clear that the competitive dynamics of our industry demand clear market leadership to drive sustainable profitability. The disposal of our Benelux business, where we are number two, delivers on that strategy and comes at the right time for Just Eat. We are the clear leader in our remaining 12 markets and it is appropriate that our time and resources are focused on building on the strong growth we are seeing across those businesses in future.”
Jitse Groen, CEO and founder of Takeaway.com, added: “We are pleased to acquire the Benelux businesses of Just Eat. These activities are complementary to our operations and will further strengthen our leading positions in continental Europe. This transaction is in line with Takeaway.com’s strategy to drive sustainable leadership positions in each of the 11 markets it operates in.”
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