Just Eat Sells Grubhub at 90% Discount to Pandemic Peak (2)

Wonder Group Inc. is buying Grubhub from Just Eat Takeaway.com NV for about $650 million, acquiring the restaurant delivery service at a steep discount to the $7.3 billion price tag it commanded during the early days of the Covid pandemic.

The transaction is expected to close in the first quarter of 2025, Just Eat said in a statement on its website on Wednesday. It expects net proceeds of as much as $50 million from the deal.

“The sale of Grubhub to Wonder will increase the cash generation capabilities of Just Eat Takeaway.com,” Just Eat Chief Executive Officer Jitse Groen said. ...