Food delivery startup Wonder Group, backed by billionaire CEO and former Walmart exec Marc Lore, is acquiring Grubhub from Netherlands-based Just Eat Takeaway for $650 million, including debt.
In 2021, Just Eat—Europe’s largest meal delivery company—paid $7.3 billion for Grubhub in hopes of expanding its business and entering the US market.
The sale, pending regulatory approval, is expected to close in Q1 2025 and reflects broader challenges in the food delivery sector.
Several meal delivery apps saw rapid growth during the COVID-19 pandemic but now struggle with thin margins and retreating venture capital support.
With Grubhub, Lore aims to turn Wonder into a super app for meals and intends to use its delivery drivers.
Wonder began as a multi-restaurant food truck service providing made-to-order meals. It now operates 28 food hall hubs where it prepares meals from top chefs and offers delivery from multiple restaurant menus through a single app.