Uber Offers $14.8 Billion to Buy Delivery Hero

A Glovo rider cycles in Madrid on Dec. 2, 2024. Glovo is owned by Germany’s Delivery Hero. Thomas Coex/AFP via Getty ImagesUber agreed on July 16 to buy Germany’s Delivery Hero in a deal valued at $14.8 billion, marking one of the largest acquisitions in the food delivery industry, as the U.S. company expands its global reach.Uber said it would offer shareholders 41.50 euros ($47.53) a share in cash.If completed, the deal would expand Uber’s mobility and delivery business to 99 markets.Together, the two companies generated $236 billion in gross bookings in 2025, Uber said.“By bringing our platforms together, we will extend affordable, reliable delivery to many millions more people in many of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” said Uber CEO Dara Khosrowshahi.Delivery Hero was founded in 2011 and describes itself as one of the world’s leading local delivery platforms, operating in about 65 countries across Asia, Europe, Latin America, the Middle East, and Africa.The Berlin-based company generated 49.1 billion euros ($56.2 billion) in gross merchandise value and 14.8 billion euros ($16.9 billion) in revenue in 2025.Together, Uber and Delivery Hero would increase the number of markets where Uber offers both ride-hailing and food delivery services from 34 to 58.Kristin Skogen Lund, chair of Delivery Hero’s supervisory board, said the food delivery industry has become more competitive.“It is challenging to build from a European base, yet we have achieved an enormous amount over 15 years,” Lund said.“Joining forces with a strong partner now is the right move for Delivery Hero to best secure its future competitiveness and ability to deliver value for all our stakeholders.”The transaction is expected to close in the second half of 2027, subject to shareholder approval and regulatory clearances.Uber said it will keep Delivery Hero’s headquarters in Berlin and will not make changes to its workforce there until at least 2029.The company also pledged to invest 2 billion euros ($2.2 billion) in Germany over the next five years.Uber said the money will support hiring, business growth, and autonomous vehicle projects.An Uber Eats food delivery worker rides a scooter in Sydney, Australia, on Oct. 25, 2024. Susan Mortimer/The Epoch TimesA separate agreement will see SSW Partners, a New York investment firm, buy Delivery Hero businesses in 14 markets for about $1.6 billion.Those businesses are mainly in countries where Uber Eats and Delivery Hero already compete.Uber said it will not own or control those businesses. Instead, SSW said it will look for long-term owners for them.“We are pleased to acquire these market-leading businesses,” said SSW Partners executives Josh Steiner and Antonio Weiss.They said SSW will help the businesses continue to grow while looking for the best long-term owners.