Financial news reports or press releases from Wonder Group

Just Eat Takeaway Sells Grubhub to Wonder Group for $650 Million, a 91% Loss

Nov 13, 2024, 01:29 PM

Wonder Group Inc., a New York-based food delivery startup led by former Walmart executive Marc Lore, is acquiring Grubhub from Just Eat Takeaway in a deal valued at $650 million. Wonder will pay $142 million in cash and assume $500 million in debt, with the transaction expected to close in the first quarter of 2025. This sale represents a significant loss for Just Eat Takeaway, which purchased Grubhub for $7.3 billion in 2020, marking a 91% decline in value. Grubhub is based in Chicago.