Thu, 15 Dec 2016 | BUSINESS SALE
Online takeaway service Just Eat has acquired its rival Hungry House for £200 million.
Alongside Uber Eats and Deliveroo, the firm is one of a growing number of ‘on-demand’ services that deliver restaurant food direct to customers’ homes.
Hungry House delivers meals from more than 10,000 restaurants and operates across much of the UK, including in London, Birmingham, Glasgow and Leeds.
Just Eat’s acquisition of Hungry House from its parent company, the Berlin-headquartered Delivery Hero, includes a potential further £40 million subject to how well Hungry House performs between now and when the transaction completes.
The company said its purchase, which will need to be approved by the Competition and Markets Authority, was consistent with its “strategic ambition” to “accelerate its growth and increase its market presence in every geography in which it operates”.
Hungry House is forecast to generate EBITDA of between £12 million and £15 million in 2017.
David Buttress, Just Eat’s chief executive officer, said: "The UK has long been an engine of growth for Just Eat.
“While we have significantly expanded internationally in recent years, we have remained focused on building a high growth, sustainably profitable business domestically.
“Through this transaction, we would extend our market presence in the UK and sustain high levels of growth given the considerable opportunity in this market."
Just Eat has also bought Skip The Dishes, a Canadian online delivery service, for CAD$110 million (£66 million).
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