Delivery Hero announced that it has purchased all outstanding minority shareholdings – a total of 37% – in HungerStation Holding Limited HungerStation, the sole shareholder of HungerStation company in Saudi Arabia, operating Delivery Hero’s Saudi business.
The transaction came to a total of US$297 million, which Delivery Hero considered a highly attractive purchase price. In FY 2022, HungerStation generated revenue growth of 36% to US$673 million and achieved a positive EBIT, including group costs, of more than US$43 million.
HungerStation is the leading food delivery player in Saudi Arabia, connecting more than 10,000 partners with customers. Its strong position and reputation as a beloved local brand make it a valuable asset for Delivery Hero. Taking sole ownership will allow Delivery Hero to build stronger ties between HungerStation and the rest of its ecosystem, including greater opportunities for mutual knowledge sharing and tech integration.
Niklas Östberg, CEO and Co-Founder of Delivery Hero said: “We believe in the Kingdom of Saudi Arabia’s 2030 vision, ambition and potential, and are committed to contributing to its ongoing success through HungerStation. I look forward to continuing to build great products and delivering an amazing experience for our Saudi customers.”
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