Delivery Hero said on Thursday it is backing a takeover bid from US giant Uber, which is seeking to acquire the German food delivery group, which operates in more than 50 markets in Asia, Europe, Latin America and the Middle East.
The deal gives Uber a much stronger position in Asia, the Middle East, Latin America and parts of Europe, including major markets such as South Korea, Italy, Saudi Arabia, the United Arab Emirates and Argentina.
Uber has agreed to offer 41.50 euros per share in cash for all Delivery Hero shares, valuing the German food delivery company at 13 billion euros ($14.8 billion).
According to the company, taking into account the previously acquired Uber stake, the transaction value will be about $13.7 billion (12 billion euros).
The Berlin-based company Delivery Hero was founded in 2011. The German firm now operates in more than 60 markets and is one of the world’s largest food delivery groups. The company has also expanded beyond its traditional grocery business into “flash retail,” delivering small packages to customers.
The deal will expand Uber’s mobility and food delivery operations to 99 countries. Together, Uber and Delivery Hero generated $236 billion (€205.9 billion) in gross orders in 2025, as measured by gross merchandise value (GMV).
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Uber said the acquisition would create the world’s largest mobility and delivery platform.
Dara Khosrowshahi, Uber CEO, said: “By combining our platforms, Uber will expand affordable and reliable delivery to many millions of people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers.”
“Uber’s global mobility and delivery platform and our shared commitment to innovation make this partnership a good fit to build on Delivery Hero’s strengths in local food delivery and fast-paced commerce,” said Niklas Østberg, CEO and co-founder of Delivery Hero.
Uber expects the acquisition to be accretive to adjusted earnings per share upon closing, with single-digit growth by the third year.
Delivery Hero shares fell 0.5% in Frankfurt following the announcement and were trading at 37.90 euros by midday.
Uber has agreed not to make changes to Delivery Hero’s workforce in Berlin until at least 2029.
In addition, Uber has committed to investing €2 billion in Germany through 2031, with a focus on developing the local corporate workforce, growing its national business, as well as kick-starting autonomous vehicle adoption and partnering with the German auto industry.
In addition, Delivery Hero agreed to sell its business in 14 markets where it competes with Uber Eats to New York-based investment firm SSW Partners for about 1.4 billion euros. The sale is subject to the completion of the acquisition by Uber and the satisfaction of other customary closing conditions.
However, the takeover will only take place if Uber obtains at least 50% plus one share of Delivery Hero’s outstanding share capital, including shares it already owns, and obtains the necessary regulatory approvals.
Prosus, Delivery Hero’s largest shareholder, has unconditionally committed to putting its shares up for sale, which would give Uber an economic stake of about 53% in the company.
Delivery Hero’s management and supervisory board said they intend to recommend that shareholders accept the offer, subject to review of the formal offer document. The transaction is expected to be completed in the second half of 2027.