The acquisition would expand Uber’s global mobility and delivery platform to 99 markets while accelerating consolidation across the food delivery industry.

Uber has launched a voluntary takeover offer to acquire Delivery Hero in a deal valuing the German food delivery company at USD 14.8 billion. This marks one of the largest acquisitions in the global delivery sector.

Why You Should Care

If completed, the acquisition would significantly strengthen Uber’s position in food delivery by combining its operations with Delivery Hero’s across 99 markets. This creates a platform with 2025 pro forma gross bookings of USD 236 billion. 

The move underscores a broader shift across the industry. This is one where major players are prioritizing profitability, scale, and operational efficiency over aggressive expansion.

The Details

Uber is offering USD 47.47 (EUR 41.50) per share in cash to Delivery Hero shareholders. This implies an equity value of USD 14.8 billion, or USD 13.7 billion after accounting for Uber’s existing stake in the company.

Delivery Hero’s Management Board and Supervisory Board have unanimously welcomed the offer and intend to recommend that shareholders tender their shares after reviewing the official offer document. Meanwhile, Prosus has irrevocably committed to tender its stake, which would increase Uber’s total economic interest to approximately 53%.

To facilitate the transaction, Delivery Hero has also agreed to sell businesses across 14 markets to New York-based investment firm SSW Partners for approximately USD 1.6 billion. The divestment primarily covers markets where Uber Eats and Delivery Hero have overlapping operations, helping reduce potential regulatory concerns. Uber will not control these businesses, with SSW expected to independently identify long-term strategic buyers.

The Ripple

The deal could reshape competition across the global food delivery market as rivals face increasing pressure to pursue mergers, partnerships, or strategic exits to remain competitive. Regulators are also expected to closely examine the transaction, particularly in markets where the two companies hold significant market share.

For the Middle East and North Africa, the acquisition highlights the continued consolidation of global technology platforms. As international players grow larger through acquisitions, regional delivery, logistics, and quick commerce startups may encounter a more competitive landscape, while investors could place greater emphasis on businesses with clear paths to profitability and scale.

What to Watch

The transaction remains subject to shareholder approval and regulatory clearance. Investors will also be watching how successfully Uber integrates Delivery Hero’s operations and how quickly SSW Partners finds long-term buyers for the divested businesses. The outcome could influence the next wave of consolidation across the global delivery industry.