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Delivery Service Firm Takeaway's Quarterly Orders Surge On Acquisitions

Published on Oct 14 2019 10:00 AM in Food tagged: Trending Posts /

Delivery Service Firm Takeaway's Quarterly Orders Surge On Acquisitions

Dutch online food delivery company has reported an 87% increase in third-quarter orders, driven by organic growth and acquisitions.

The company processed 41.6 million orders across its markets in the period, supported by strong sales in Germany where it completed the acquisition of the local arm of the world's biggest online food delivery firm, Delivery Hero, in April.

Scale is all-important in the food-delivery business as competitors scramble to offer consumers the biggest offering of restaurants. Most players, excluding Britain's Just Eat, are yet to produce profits as they spend heavily on marketing and acquisitions.

Just Eat Merger

Amsterdam-based said that it expects its £9 billion all-share merger with Just Eat, which would create a firm that would rival Uber Eats as the world's largest food-delivery company outside China, to complete by around year-end.

"EBITDA Positive"

"The company is now EBITDA positive in both the Netherlands and the Germany segment, and for the company as a whole," CEO Jitse Groen said in a statement.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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