Uber to take over Delivery Hero in £12.7bn merger deal

German food delivery company Delivery Hero has agreed to a €12.7 billion ($14.6 billion) takeover by U.S. ride-hailing giant Uber, marking one of the largest acquisitions in the global food delivery industry.

The companies announced the agreement on Thursday, July 16, with Uber offering €41.50 per share for Delivery Hero, valuing the Berlin-based company at €12.7 billion. Despite the announcement, Delivery Hero’s shares fell 0.5% in Frankfurt trading to €37.90.

Founded in 2011, Delivery Hero has grown into one of the world’s largest food delivery companies, operating in more than 60 markets across Asia, Europe, Latin America and the Middle East. In recent years, it has expanded beyond restaurant deliveries into “quick commerce,” offering rapid delivery of groceries and small consumer goods.

Under the agreement, Uber will acquire Delivery Hero’s operations in 50 markets worldwide. As part of the transaction, U.S.-based investment firm SSW Partners will acquire Delivery Hero’s businesses in another 14 markets where the German company and Uber currently compete. That portion of the deal is valued at approximately €1.4 billion.

Delivery Hero Chief Executive Officer and co-founder Niklas Östberg said the agreement would strengthen the company’s long-term growth by combining its regional expertise with Uber’s global platform. “Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and quick commerce,” Östberg said.

Uber Chief Executive Officer Dara Khosrowshahi said the acquisition would expand the company’s delivery services while creating new opportunities for businesses and delivery workers. “A merger would extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” Khosrowshahi said.

Delivery Hero’s management has unanimously recommended that shareholders approve the offer. The companies said the transaction remains subject to shareholder approval and regulatory clearances and is expected to be completed in the second half of 2027.