Uber reached an agreement to acquire Delivery Hero on July 16, 2026, valuing the Berlin-based food delivery group at $14.8bn (£11bn / €12.9bn). The transaction, structured as a public takeover offer under German law, would combine Uber Eats with Delivery Hero's portfolio of brands across 99 countries (The Guardian).

Uber offered €41.50 per share to Delivery Hero shareholders, equivalent to $47.58 in USD at the time of announcement. After accounting for Uber's prior purchases of roughly 25% of Delivery Hero shares, including a tranche acquired in May that brought its ownership to 19.5% of issued capital, Uber will pay $13.7bn for the remainder. Prosus, holding a 17% shareholding, committed to sell its stake to Uber. Delivery Hero's board and executives unanimously supported the takeover and intend to recommend it to shareholders. Kristin Skogen Lund, chair of Delivery Hero's supervisory board, oversaw the agreement. Delivery Hero had confirmed advanced negotiations on July 14, 2026, before publishing its own press release confirming the business combination agreement on July 16 (The Guardian; Delivery Hero Newsroom).

The combined Uber-Delivery Hero business booked $236bn in orders in 2025. After the deal, Uber will offer taxi and food delivery services in 58 markets, up from 34 currently. Uber stated that customers who use both its taxi and food delivery services tend to spend three times more on its app. Delivery Hero's brands include foodpanda in Asia, PedidosYa in Latin America, and talabat in the Middle East.

To navigate competition regulators, Uber will not acquire Delivery Hero's operations in 14 countries where Uber already has a strong presence. These excluded operations include Glovo in Portugal and Spain, foodora in Norway and Sweden, and Yemeksepeti in Turkey. SSW Partners, a New York-based private equity firm, will buy the excluded operations for $1.6bn. The split is intended to prevent Uber from dominating those 14 markets. Delivery Hero does not operate in the UK.

Uber committed to maintain Delivery Hero's headquarters in Berlin and make no workforce changes until at least 2029. Uber pledged to invest €2bn in Germany over the five years following the deal. The deal is expected to close in the second half of 2027.

The broader context here is one of sustained consolidation in the global food delivery sector, where scale directly affects unit economics and defensive moats. By absorbing Delivery Hero's regional brands, Uber extends its logistics network across Asia, Latin America, and the Middle East. The SSW Partners carve-out serves as a pragmatic antitrust remedy, isolating overlapping European and Turkish markets for divestiture.

The super-app logic underpinning this acquisition rests on cross-platform user monetization. Uber’s claim that dual-users of ride-hailing and food delivery spend three times more suggests the firm is prioritizing higher lifetime value over mere geographic expansion. Integrating Delivery Hero's Berlin headquarters while freezing workforce changes until 2029 indicates a deliberate effort to secure regulatory and political goodwill in Germany.

Regulatory scrutiny will likely center on market concentration thresholds across the 99-country footprint, even with the 14-market carve-out. The transaction also closes a loop on prior regional dispositions; Uber Eats previously acquired Delivery Hero's foodpanda business in Taiwan for $950 million in cash in May 2024, separate from the main acquisition. Closing the global deal will require navigating multi-jurisdictional antitrust reviews, standard for mergers of this scale.