NEW
YORK and CHICAGO,
Nov. 13,
2024 /PRNewswire/ -- Wonder, a new kind of food hall
that is revolutionizing the food industry by creating the super app
for mealtime, announced that it is acquiring Grubhub, a leading
food ordering and delivery platform with more than 375,000
merchants and 200,000 delivery partners across the United States. Integrating Grubhub with
Wonder is the next step in Wonder's mission to make great food more
accessible, bringing together the convenience, speed and selection
of first-party and third-party restaurants, groceries and meal kits
in a single app order. Additionally, all Wonder locations will be
available on Grubhub for third-party delivery.
Wonder will acquire Grubhub from Just Eat Takeaway.com for an
enterprise value of $650 million,
including $500 million of senior
notes and $150 million cash.
Completion is expected during Q1 2025, subject to customary closing
conditions including regulatory approvals. Jefferies served as
Wonder's exclusive financial advisor on the transaction.
Wonder has also announced an additional $250 million in capital raised exclusively from
new investors to further its mission and growth.
Founded by serial entrepreneur Marc
Lore, Wonder is making great food more accessible while
pioneering a new category of "Fast Fine" dining. Wonder offers
Multi-Restaurant Ordering, a first in the industry where customers
can order from upwards of 30 restaurants in a single order, with
each item being made-to-order in a sequenced fashion so that they
finish simultaneously and can be delivered to the customer
together.
The platform features exclusive offerings from the world's best
chefs–including Bobby Flay,
Marcus Samuelsson and José
Andrés–and the country's best restaurants–including Maydan, Tejas
Barbecue, Di Fara Pizza and Fred's
Meat and Bread. Wonder currently has 28 locations in the
Northeastern U.S., with seven additional locations slated to open
by the end of the year. Leveraging its proprietary technology,
Wonder is able to differentiate itself from every other restaurant
or food delivery concept by offering exceptionally high-quality
food, with order-to-delivery times below 30 minutes.
For 20 years, Grubhub has connected merchants with nearby
customers looking for takeout and delivery. Its logistics network
covers the vast majority of the U.S. population with on-demand
delivery from independent restaurants, leading national restaurant
brands, and convenience, grocery, pet and office supply retailers.
The company's loyalty program, Grubhub+, provides members with
$0 delivery fees, lower service fees
and 5 percent back on pickup orders. Beyond its consumer delivery
marketplace, Grubhub has a Campus Dining business that powers
online ordering at more than 360 universities and a Corporate
Accounts business that provides flexible meal perks platforms for
more than 10,000 companies.
"Wonder's acquisition of Grubhub continues our mission to make
great food more accessible. As we enhance our customer experience
with selection, speed, and variety, we're excited to soon offer a
curated selection of Grubhub's restaurant partners directly in the
Wonder app, alongside our owned and operated restaurants and meal
kits," said Marc Lore, Founder and
CEO of Wonder. "Bringing Wonder and Grubhub together is the next
step in our vision to create the super app for meal time,
re-envisioning the future of food delivery."
"I am incredibly excited for Grubhub to join forces with Wonder
and bring more value to our diners, merchants and delivery
partners," said Howard Migdal,
Grubhub CEO. "Since our earliest days, Grubhub has helped
restaurants open their doors to new customers, while introducing
diners to new cuisines. That's why I'm confident that Grubhub will
complement Wonder's mission to make great food more accessible and
that together we will create remarkable dining experiences for more
customers across the country."
About Wonder
Wonder is a new kind of food hall that is
revolutionizing the food industry by creating the super app for
mealtime, operating a collection of delivery-first restaurants and
pioneering a new category of "Fast Fine" dining.
Featuring some of the world's best chefs including Bobby Flay, Jose
Andres, Nancy Silverton and
Marcus Samuelsson, along with
award-winning restaurants from across the country including Tejas
Barbeque and Di Fara Pizza,
customers can experience any combination of these chefs and
restaurants all together in one order for the first time. In 2023,
Wonder acquired meal kit pioneer Blue Apron.
About Grubhub
Grubhub is a leading U.S. food ordering
and delivery marketplace. Dedicated to connecting diners with the
food they love from their favorite local restaurants, Grubhub
elevates food ordering through innovative restaurant technology,
easy-to-use platforms, and an improved delivery experience. Grubhub
features 375,000 merchants in over 4,000 U.S. cities.
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SOURCE Grubhub