Signage for Delivery Hero at the company’s headquarters in Berlin. (Kriztian Bocci/Bloomberg)
key takeaways:
- Uber has agreed to acquire Delivery Hero for approximately $14.8 billion, which will expand its food delivery and mobility footprint in 50 markets pending regulatory approval.
- The deal strengthens Uber’s presence in Asia, Latin America and the Middle East, increasing its market count to 99 and reflecting continued industry consolidation.
- Regulatory review is next, while SSW Partners will buy 14 additional markets for about $1.6 billion and Uber plans to retain Delivery Hero’s Berlin headquarters until at least 2029.
Uber Technologies Inc. has agreed to buy Delivery Hero SE in a deal that values the German food-delivery company at $14.8 billion and expands the U.S. firm’s global operations.
Uber offered to pay 41.50 euros ($47.60) per share and would acquire Delivery Hero’s operations in 50 markets, the company said in a statement July 16, confirming an earlier report by Bloomberg News. The company already holds a direct stake of about 25% and the transaction is pending regulatory approval.
The offer is about a 26% premium over the 33 euros a share Uber originally offered in May, sending the delivery hero’s stock soaring, up 66% year to date.
In a separate transaction, investment firm SSW Partners will acquire 14 other markets for about $1.6 billion and operate the businesses until it finds buyers for the assets, which include units in Austria, Norway, Spain and Sweden. Shutting down some markets could ease regulatory concerns about the deal.
The food delivery market, which grew rapidly during the COVID-19 pandemic and gave rise to dozens of players, has been rapidly consolidating in recent years. Ride-hailing company Uber has been making acquisitions abroad to strengthen its position internationally, with hometown rivals like DoorDash Inc. also making similar moves. DoorDash last year agreed to buy UK’s Deliveroo PLC, while Prosus struck a deal to acquire Just Eat Takeaway.com NV.
The acquisition marks a major expansion for Uber into Asia, Latin America and the Middle East and increases its total markets from 79 to 99. Uber will finance the deal with its cash and new debt and said it has secured a 14 billion euro bridge loan.
Delivery Hero (@deliveryherocom) is connecting with @Uber
Mobility + Local Delivery + Instant Commerce + Innovation. A platform. Global level. The biggest opportunity in the industry.
Read the full announcement on our website. – Delivery Hero (@deliveryherocom) 16 July 2026
Prosus, a significant Delivery Hero shareholder, is selling its entire 16.8% stake as part of the transaction.
Delivery Hero, formed in 2011, is conducting a strategic review after pressure from shareholders, including Aspex Management, the hedge fund that succeeded in ousting founder Niklas Ostberg and has lobbied for more asset sales. The company’s shares are up 68% so far this year.
Uber has committed to retaining Delivery Hero’s Berlin headquarters and corporate workforce until at least 2029, the German company said in a statement. The American company also intends to invest approximately 2 billion euros in Germany by 2031.
During a call with analysts, CEO Dara Khosrowshahi said Uber will focus on cross-selling its ride-hailing and food delivery services in Korea and the Middle East.
Uber will acquire Delivery Hero’s operations in 50 markets. (Delivery Hero)
Chief Financial Officer Balaji Krishnamurthy said Delivery Hero and Uber’s businesses operate on a common back-end architecture, which will make the transition easier.
“We feel that once we get the approval here, we will be able to move forward quickly,” he said.
SSW was co-founded by former Lazard Inc. Banker Antonio Weiss as well as Quadrangle Group co-founder Joshua Steiner, who heads Bloomberg Inc. He also serves as a board member of Goldman Sachs Group Inc., and Goldman Sachs Group Inc. Former executive Eric Schwartz.
Uber Freight is ranked 16th on Transport Topics Top 100 list of the largest logistics companies in North America.
Written by Ryan Gould, Ike Henning, Vinici Chan and Loni Prinsloo
