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The food delivery company Just Eat Takeaway is selling Grubhub to the delivery-focused restaurant chain Wonder for $650m (£510m), only four years after buying the US app in a multibillion-dollar tie-up after the first Covid lockdowns. The Netherlands-based Just Eat, which is Europe's largest meal delivery company, had been looking to offload its US unit since as early as 2022, as the pandemic-fuelled boost to online food shopping faded and it grappled with tough competition. Wonder is a New York-based chain of fast casual restaurants, led by the former Walmart executive and serial entrepreneur Marc Lore.
Just Eat bought Grubhub in a $7.3bn deal agreed in June 2020, which was intended to create the world's largest food delivery service outside China. The tie-up was aimed at giving Just Eat access to the lucrative US food delivery market, with the combined business able to serve customers in 25 countries.
Just Eat reportedly beat Uber to a deal, as the tech company also held talks with Grubhub as the food delivery sector boomed during the coronavirus...
Joanna Partridge.
