Netherlands-based food delivery service Just Eat Takeaway’announced In a trading update Wednesday, April 20, that it is “actively exploring” the possibility of a partial or full sale of Grubhub, the Chicago-based restaurant aggregator it acquired two years ago.
Just Eat also floated the possibility of bringing in a strategic partner to help manage the Grubhub acquisition. The food delivery industry experienced a large surge during the extensive lockdowns worldwide as the COVID-19 pandemic raged. As countries return to normal, however, these services may soon find a fall in demand, leading companies to adjust strategies to maintain profitability.
“Our priority for 2022 lies in enhancing profitability and strengthening our business,” Just Eat Takeaway CEO Jitse Groen said in a statement. “We expect profitability to gradually improve throughout the year, and to return to positive adjusted EBITDA in 2023.”
Just Eat Takeaway initially announced its acquisition of Grubhub in 2020, and the deal closed in June 2021 after negotiations between Grubhub and ride-hailing giant Uber fell through over price and regulatory concerns. Just Eat Takeaway snapped up the company as it sought to gain an edge over the contested food delivery app sector.
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