Uber buys Delivery Hero in €12.7 billion deal

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Uber has agreed to acquire German food delivery company Delivery Hero in a €12.7 billion ($14.6 billion) deal, the companies said Thursday.

Founded in 2011, Delivery Hero operates in more than 60 markets and has grown into one of the world’s biggest food delivery groups. Alongside restaurant delivery, it has expanded into quick commerce, handling small-package deliveries.

Uber is offering €41.50 per share, valuing the takeover at €12.7 billion. After the announcement, Delivery Hero shares were down 0.5% in Frankfurt at €37.9.

“Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and quick commerce.”

Under the agreement, Uber will acquire Delivery Hero businesses in 50 markets across Asia, Europe, Latin America and the Middle East. SSW Partners, a U.S. investment firm, will separately acquire Delivery Hero operations in another 14 markets where the two companies compete, for around €1.4 billion.

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Uber CEO Dara Khosrowshahi said the merger would:

“extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers.”

Delivery Hero said its management recommends that shareholders accept the offer, and the transaction is expected to close in the second half of 2027.