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Dordash agreed to buy a food delivery company training in an agreement of £ 2.9 billion, ending the tumultuous time of the United Kingdom group in public markets.
Dordash, based in San Francisco, said he would pay 180p per cash for the United Kingdom group, which has had problems since it appeared in London four years ago.
DeliveryThat operates a food delivery application in nine countries, has faced a hard competition of rivals, including Uber Eats and reported its first full -year gain in March.
The consolidation is accumulating rhythm in the food delivery sector, since companies are committed to increasing size will help them grow.
Earlier this year, Prosus, the European investment arm of the Naspers South African group – reached an agreement of € 4.1bn To take the largest food delivery group in Europe, just eat deprived food.
Delivery and DORORASH He said Tuesday that his meetings had agreed the final terms of the cash agreement.
Dordash’s operations focus on the US, Canada, Australia and New Zealand and do not overlap with Deliveroo, which was founded by executive director Will Shu in 2013.
He FT previously reported that Dordash I expected the lack of overlap to mean that the agreement would not be blocked by competition regulators.
Dordash has expanded abroad, particularly through an agreement of 7 billion euros for Wolt Finnish Supply Application In 2021. The company operates in more than 30 countries.
The acquisition of between Woo of Dordash ends a difficult time to deliver as a company that is in the United Kingdom: its The actions fell sharply after their 2021 Initial Public Offer and never recovered.
Shu said that Dordash’s agreement was “the beginning of a new transformative chapter” for Deliveroo: the American group is approximately 30 times its size based on market capitalization.
“The expanded group will have the scale to invest in products, technology and the general proposal of the consumer value,” he said.
Tony Xu, executive and co -founder director of Dordash, said the agreement would bring together “the strong operating play book of Dordash with the local experience of Deliveroo.”
Both companies have expanded to supermarkets and other types of retail and developing their advertising businesses to increase profitability.
Sean Kealy, an analyst at Panmure Liberum, said that Dordash’s intention to increase investment in Deliveroo indicated that the agreement was designed to “support competitiveness in its markets.”
“[It’s] A clear indication that Dordash is acquiring the business to accelerate its growth, ”he said.