PE-backed Takeaway.com acquires Just Eat's Benelux arm for €22.5m

The enterprise value for the transaction was €22.5m payable in cash, of which 80% was paid on completion and 20% will be paid six months after, subject to certain obligations being met.

The acquisition, which includes Dutch platform Justeat.nl and Belgian platform Justeat.be, enables Takeaway.com to strengthen its position in the Benelux region, and is in line with the group's strategy to expand in Europe.

The company will merge the acquired businesses into its activity, and customers and restaurants will be able to access the added businesses through Takeaway.com's platform.

In April 2014, Takeaway.com had bolted on Berlin-based Lieferando, an online food order platform for individuals and businesses across Germany, Switzerland, Austria, France and Poland, covering food products from pizza to fruit, for a reported $103m in cash.

Takeaway.com is already active in the Netherlands through its Thuisbezorgd.nl platform and in Belgium with Pizza.be.

Previous funding
In April 2014, Macquarie Capital led a series-B round of funding, used to acquire German competitor Lieferando. Prime Ventures co-invested in the round.

In January 2012, Prime Ventures provided a €13m series-A round.

Company
Launched in Denmark in 2001 and based in London, Just Eat is an online takeaway ordering service.

The company has partnered with more than 25,000 restaurants, 11,000 of which are in the UK, allowing users to place takeaway orders from restaurants via the Just Eat website. The firm has received more than 30 million orders since its launch. It reportedly registered a £247.6m turnover for 2015.

People
Prime Ventures – Sake Bosch (managing partner); Alexander Ribbink (partner).
Macquarie Capital – David Standen (managing director).

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