Takeaway delivery giant Just Eat Takeaway has agreed to buy US rival Grubhub in a £5.75bn deal – in a move that could create the world’s largest firm within the industry.
The announcement comes after talks between Grubhub and Uber failed as their potential merger faced competition scrutiny.
The combined firm would have more than 70 million active customers across Europe.
Just Eat Takeaway’s CEO Jitse Groen highlighted the importance to the deal’s success was partly down to his relationship with Grubhub Chief Executive, Matt Maloney.
Groen said: “Matt and I are the two remaining food delivery veterans in the sector, having started our respective businesses at the turn of the century, albeit on two different continents. Both of us have a firm belief that only businesses with high-quality and profitable growth will sustain in our sector.”