Uber to Acquire Delivery Hero in US$14.8 Billion Deal to Create World's Largest Food Delivery Platform Outside China

New York | EcoPulse24

Uber Technologies has agreed to acquire Germany-based Delivery Hero in a transaction valued at US$14.8 billion, creating the world's largest food delivery platform outside China and significantly expanding its global footprint across food delivery, grocery services, and mobility.

The all-cash offer values Delivery Hero at €41.50 (US$47.60) per share, representing a substantial premium over the company's recent trading levels. The acquisition combines two of the world's largest on-demand delivery companies and positions Uber to compete more aggressively in a rapidly consolidating global delivery market.

Uber Raises Offer After Initial Rejection

The agreement follows months of negotiations.

Delivery Hero disclosed in late May that it had rejected an initial €33-per-share proposal from Uber, which valued the company at approximately €10 billion, considering the offer insufficient.

Uber subsequently improved its proposal to €41.50 per share, representing:

Offer Premium

Delivery Hero shares have risen roughly 62% since the beginning of 2026 amid growing expectations of an improved takeover proposal.

Deal Structure Addresses Competition Concerns

To facilitate regulatory approval, the transaction has been structured in two parts.

Uber will acquire Delivery Hero's operations across 50 markets, while U.S.-based investment firm SSW Partners will purchase operations in 14 additional markets, including Spain, Austria, Norway, and Sweden, for approximately €1.4 billion to €1.6 billion.

The arrangement is designed to reduce potential antitrust concerns in jurisdictions where market concentration could become an issue following the acquisition.

Meanwhile, Prosus, Delivery Hero's largest shareholder with a stake of roughly 17%, has agreed to tender its shares, significantly reducing the likelihood of a competing bid.

Global Scale Expands Significantly

The acquisition substantially strengthens Uber's international delivery business.

Following completion of the transaction:

For comparison, DoorDash generated approximately US$102 billion in gross bookings during 2025, while China's Meituan recorded approximately US$246.5 billion.

Uber will also gain control of several globally recognized brands, including:

• Talabat

• foodpanda

• Glovo

• PedidosYa

• Hungerstation

The addition of these regional platforms significantly broadens Uber's geographic reach across the Middle East, Asia, Latin America, and Europe.

Executives Highlight Consumer Ecosystem

Uber CEO Dara Khosrowshahi told CNBC that the acquisition nearly doubles the number of markets where Uber operates both mobility and delivery services.

He noted that customers using both services spend approximately three times more than users relying on only one, describing the integrated ecosystem as one of Uber's most important competitive advantages.

Delivery Hero Supervisory Board Chair Christine Skogen Lund said joining a larger strategic partner represents the right decision given the highly competitive and scale-driven nature of the global food delivery industry.

Chief Executive Niklas Östberg described the transaction as the appropriate partnership to advance Delivery Hero's long-term vision of becoming an "Everyday App."

Headquarters to Remain in Berlin

Uber has committed to maintaining Delivery Hero's headquarters in Berlin and preserving its workforce until at least 2029.

The company also pledged to invest €2 billion in Germany by 2031, underscoring its long-term commitment to the country's technology sector.

Completion of the acquisition remains subject to shareholder approval, requiring acceptance from holders of more than 50% of outstanding shares plus one additional share.

The companies expect the transaction to close during the second half of 2027, subject to regulatory and antitrust approvals.

EcoPulse24 Analysis

The acquisition marks one of the most significant consolidation moves in the global on-demand economy in recent years. Rather than simply expanding its delivery footprint, Uber is strengthening its broader platform strategy by combining mobility, food delivery, grocery, and digital consumer services within a single ecosystem designed to increase customer engagement and lifetime value.

The transaction also reflects the growing importance of scale in the food delivery industry. As competition intensifies and profitability becomes increasingly dependent on operational efficiency, larger platforms are seeking broader geographic coverage, stronger network effects, and higher customer retention through integrated service offerings.

Equally important is the regulatory structure of the deal. By separating 14 markets into an acquisition by SSW Partners, Uber is proactively addressing antitrust concerns before formal regulatory reviews begin, highlighting how competition authorities have become central players in shaping large cross-border technology mergers.

From a macro perspective, the deal reinforces a broader trend toward consolidation across the global digital platform economy. Companies are increasingly pursuing mergers not only to expand market share but also to build comprehensive consumer ecosystems capable of generating recurring engagement across multiple services. If completed, the acquisition will position Uber as the dominant food delivery platform outside China and further intensify competition among global technology and consumer platform companies.