Uber has agreed to acquire Germany-based Delivery Hero for $14.8 billion in an all-stock deal announced July 16, 2026, significantly expanding the company’s global delivery footprint to 99 markets and creating one of the world’s largest food-delivery platforms outside China. Under the terms of the offer, Uber will pay €41.50 per share in cash to Delivery Hero shareholders, representing a 127% premium on the unaffected three-month volume-weighted average share price before May 8, 2026.
The acquisition covers Delivery Hero’s operations across 50 markets, including its foodpanda brand in Asia, Glovo in Europe and Africa, talabat in the Middle East, and PedidosYa in Latin America. Combined, the two platforms generated pro forma gross bookings of $236 billion in 2025, according to Delivery Hero’s announcement. The deal also includes a separate agreement with investment firm SSW Partners to acquire 14 overlapping markets where Uber Eats and Delivery Hero already compete, for approximately €1.4 billion.
Uber CEO Dara Khosrowshahi said the combination reflects the company’s cross-platform strategy. “By bringing our platforms together, Uber will extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” he stated in the press release. Delivery Hero CEO Niklas Östberg called the partnership an opportunity to build on the company’s 15-year track record in local food delivery and quick commerce.
The food delivery sector has consolidated significantly over the past decade. In the U.S. market, DoorDash controls roughly 56% of market share, followed by Uber Eats at 23% and Grubhub at 16%, according to market research from April 2026. Globally, the online food delivery market reached $257.43 billion in 2025 and is projected to grow to $694.65 billion by 2035, driving competition among major players to expand internationally. Acquisition activity in the sector has accelerated as companies seek scale in high-growth regions across Europe, Asia, and Latin America.
Uber already held a significant stake in Delivery Hero before announcing the takeover bid. In April 2026, Uber purchased a 4.5% stake from investor Prosus for €270 million, bringing its total ownership to approximately 17%. The latest agreement reveals that Uber now controls 24.77% of Delivery Hero’s shares plus 11.74% in instruments, giving it a combined economic interest exceeding 53% when combined with irrevocable tender commitments totaling 16.68%.
Commitments to Employees and Regulatory Path
Uber has pledged to retain Delivery Hero’s Berlin headquarters and make no changes to its workforce in the city until at least 2029. The company also committed to invest €2 billion in Germany through 2031, focusing on corporate workforce development, expanding its nationwide business, and launching autonomous vehicle deployments and partnerships with the German automotive industry.
Delivery Hero’s Management Board and Supervisory Board support the transaction. Kristin Skogen Lund, chair of Delivery Hero’s Supervisory Board, said the food delivery business is “highly competitive and scale dependent” and that joining forces with Uber “is the right move for Delivery Hero to best secure its future competitiveness.” The offer requires approval from German regulators, including the Federal Financial Supervisory Authority (BaFin), and is subject to a minimum acceptance threshold of 50% of all Delivery Hero shares. Completion is expected in the second half of 2027.
Sources
- Delivery Hero — official press release announcing the acquisition agreement, transaction terms, and strategic rationale
- Uber Investor Relations — official announcement of the $14.8 billion offer and market expansion details
- Reuters — reporting on Uber’s April 2026 purchase of a 4.5% Delivery Hero stake from Prosus and global food delivery consolidation context
- Bloomberg — coverage of the deal structure and market implications
- Wall Street Journal — reporting on the transaction terms and regulatory framework
- Business of Apps — food delivery market consolidation data and competitive landscape
- Future Market Insights — global online food delivery market size and growth projections
