Uber Makes $14.8 Billion Bid for Delivery Hero in One of the Biggest Food Delivery Deals Ever

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Uber Technologies has formally launched a $14.8 billion (€13 billion) takeover bid for German food delivery company Delivery Hero, a move that would create the world’s largest food delivery platform outside China.

The all-cash offer values Delivery Hero at €41.50 per share, representing a premium of about 34% over the company’s recent average share price. Uber said the acquisition is aimed at strengthening Uber Eats’ international presence as competition in the food delivery industry intensifies.

If completed, the combined business will operate across 99 countries with a projected gross merchandise value of approximately $236 billion, making it one of the most extensive food delivery networks globally. The merger would significantly expand Uber Eats’ reach across Europe, the Middle East, Asia and Latin America.

To help address expected regulatory concerns, Delivery Hero has agreed to divest operations in 14 markets to U.S.-based investment firm SSW Partners for about €1.4 billion. Uber has also pledged to invest €2 billion in Germany by 2031 while maintaining Delivery Hero’s Berlin headquarters and workforce until at least 2029.

Delivery Hero’s management and supervisory boards have endorsed the proposal and intend to recommend that shareholders approve the transaction once the formal offer document is released. Major shareholder Prosus has also agreed to tender its stake, giving Uber effective control of more than half of Delivery Hero’s shares if the transaction proceeds.

The acquisition marks another major chapter in the consolidation of the global food delivery market. As growth moderates following years of rapid expansion, companies are increasingly pursuing mergers and acquisitions to achieve greater scale, improve efficiency and strengthen profitability.

The food delivery industry is entering a new era where size and geographic reach are becoming decisive competitive advantages.

Instead of expanding city by city, leading platforms are increasingly buying established rivals to accelerate growth and strengthen their market position.

The battle among digital platforms is no longer limited to ride hailing or food delivery.

Companies are building integrated ecosystems that combine transportation, restaurants, groceries, retail and financial services within a single platform. As consolidation continues, consumers are likely to see fewer global players with broader service offerings and deeper investments in technology and logistics.