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EU Parent to Divest Grubhub

04/27/2022

JEgg-Newsust EatTakeAway.com based in the Netherlands intends to sell Grubhub.  The company was acquired in 2021 in a deal valued at $7.3 billion.  Following the COVID boom in home delivery, GrubHub along with competitors enjoyed high sales and revenue growth but negligible profit or losses. Grubhub has fared badly in comparison to competitors having halved market share to 11 percent over two years according to industry observers. North America is the largest market for Just EatTakeAway, and costs for delivery are rising at a time when consumers have less need for home delivery.  Egg-NewsAccordingly the parent company is reviewing its participation in North America.  Just EatTakeAway was created in 2020 through merger of a major U.K. entity and an operator based in the Netherlands. The holding company that has lost 70 percent of share value in six months is under pressure by activist investors to restructure its world operations and to dispose of the North American liability.