Rocket Internet AG today announces the signing of the acquisition of 100% of the shares in Talabat.
Talabat is one of the leading players in the attractive online food takeaway market in the Middle East, headquartered in Kuwait, for approximately EUR 150 million. The closing of the transaction is expected in the next few weeks.
Talabat operates in Kuwait, Saudi Arabia, United Arab Emirates (“UAE”), Bahrain, Oman and Qatar with particularly strong market positions in Kuwait, UAE and Saudi Arabia. It currently cooperates with more than 1,300 partner restaurants including major brands like Burger King, KFC, JonnyRocket, Hardees, TGI Fridays, Pizza Hut, PizzaExpress, PapaJohn and Subway.
With this transaction, Rocket attains leading market positions in the top two markets in the Middle East, Saudi Arabia and United Arab Emirates – countries characterized by the highest smartphone penetration in the world and large basket sizes offering a high potential for further growth. Furthermore, it gains access to new countries with highly attractive market fundamentals. Talabat.com will be part of the newly created Global Online Takeaway Group which Rocket announced last week in its business update.
Rocket furthermore announces that the emerging market leader in the online food takeaway market Foodpanda has signed the acquisition of 24h.ae, a strong player in the UAE. The closing of the transaction is expected to take place in the next few weeks. For further information, please see the press release issued by foodpanda.
Oliver Samwer, CEO of Rocket Internet said: “The online food takeaway sector is currently undergoing tremendous change. With the newly created Global Online Takeaway Group, Rocket Internet is at the forefront of consolidating the key markets in one of the most attractive online sectors. The Middle East is one of the most attractive markets with significant growth potential and highly attractive EBITDA margins. The acquisition of Talabat.com is another important step in our long-term global Food & Groceries strategy. We believe in the long-term growth potential of this space and are excited to take advantage of opportunities to build out our global leadership.”
Rocket’s mission is to become the world’s largest Internet platform outside of China and the United States. Rocket identifies and builds proven Internet business models and transfers them to new, underserved or untapped markets where it seeks to scale them into market leading online companies. Rocket is focused on online business models that satisfy basic consumer needs across three sectors: e-Commerce, marketplaces and financial technology.
Rocket started in 2007 and now has more than 25,000 employees across its network of companies, which operate in more than 100 countries on five continents. Rocket Internet AG is listed on the Frankfurt Stock Exchange
foodpanda together with its affiliated brands hellofood and Delivery Club, is the leading global online food delivery marketplace, active in 38 countries on five continents. The company enables restaurants to become visible in the online and mobile world and provides them with a constantly evolving online technology. For consumers, foodpanda/hellofood offer the convenience to order food online and the widest gastronomic range, from which they can choose their favorite meal on the web or via the app. foodpanda operates in India, Thailand, Indonesia, Pakistan, Singapore, Malaysia, Brunei, Vietnam, Taiwan, Bangladesh, Kazakhstan, Azerbaijan, Hong Kong, Philippines, Russia, Poland, Ukraine, Hungary, Romania, Bulgaria, Georgia and Serbia. hellofood operates in Brazil, Mexico, Saudi Arabia, Jordan, Lebanon, Qatar, Egypt, Nigeria, Morocco, Kenya, Ghana, Senegal, Ivory Coast, Rwanda, Tanzania, Uganda and Algeria. Delivery Club operates in Russia.
foodpanda is a consumer-oriented company. Using contemporary technological means like mobile applications, it makes food ordering much more simple and fun, ensuring user comfort. Over 50 restaurants in Tbilisi, Mtskheta and Rustavi are ready to deliver food to your doorstep when you order froom foodpanda’s website (www.foodpanda.ge) or its mobile application available for free on iOS, Android and Windows Mobile.