KB News Desk
Uber agreed to acquire German food delivery company Delivery Hero for roughly $14.8 billion, the company said Thursday, a deal that would fold South Korea’s Baemin and other major delivery platforms into Uber’s global network.
Uber signed a merger agreement with Delivery Hero and will launch a voluntary tender offer, paying shareholders 41.50 euros ($52) per share in cash. The offer values Delivery Hero at about $14.8 billion for the full company, or roughly $13.7 billion after accounting for Uber’s existing stake.
The deal gives Uber control of Delivery Hero’s flagship brands across 50 markets, including Baemin, Foodora, Hungerstation and Foodpanda, extending its combined footprint to 99 markets with a projected $236 billion in gross bookings for 2025.
Certain markets where Uber Eats and Delivery Hero already compete head-on will be carved out of the deal. Delivery Hero separately agreed to sell operations across 14 markets to New York-based SSW Partners for about $1.6 billion, with Uber not taking operational control of those businesses.
“Delivery Hero’s talented team has built an extraordinary business, with beloved local brands and strong positions across some of the world’s fastest-growing delivery markets,” said Dara Khosrowshahi, CEO of Uber, adding that combining the platforms would extend affordable delivery to millions more people and create more opportunities for merchants and couriers.
An Uber official called the opportunity to join forces with Baemin meaningful and said the company plans to keep investing in Baemin’s talent, brand and technology, calling Korea one of Uber’s core markets.
Uber plans to fund the acquisition through existing cash and new borrowing, backed by a roughly 14 billion euros bridge loan.
While the offer requires acceptance from over 50 percent of Delivery Hero shares plus regulatory approval, Uber has secured irrevocable commitments covering 16.68 percent of shares, which, combined with its existing stakes, would push its total economic interest above 53 percent. The deal is expected to close in the second half of 2027.
