Uber is set to become the new owner of Foodora Hungary after agreeing to acquire German food delivery giant Delivery Hero in a USD 14.8 billion (EUR 12.7 billion) deal. The acquisition will significantly expand Uber’s global food delivery business and strengthen its position against major competitors such as DoorDash and Prosus.
Foodora Hungary to become part of Uber
The transaction will see Uber acquire Delivery Hero, the Berlin-based company that owns Foodora in Hungary and operates numerous food delivery platforms worldwide. As Hungary is not among the markets being divested as part of the deal, Foodora’s Hungarian business will remain within the Uber group once the acquisition is completed.
The agreement would almost double Uber’s international footprint, increasing its presence from around 50 countries to 99. Uber is already a shareholder in Delivery Hero, having held a 19.5% stake before announcing the takeover. Under the agreement, Uber will pay EUR 41.50 per share in cash, an offer unanimously backed by Delivery Hero’s management, writes G7.
A second attempt succeeds
The acquisition follows an unsuccessful bid just six weeks earlier, when Uber offered EUR 33 per share. Delivery Hero rejected that proposal, after which its share price climbed by around 13% to EUR 39, prompting Uber to return with a substantially improved offer.
The final transaction values Delivery Hero at approximately USD 14.8 billion, representing a premium of roughly 34% over the company’s average share price during the previous three months.
Competition concerns remain
The takeover is expected to face scrutiny from competition authorities. Uber already operates its own food delivery platform, Uber Eats, in many international markets. By adding Delivery Hero’s portfolio of leading brands, regulators may examine whether the merger could reduce competition or create dominant market positions in certain countries.
To address some of these concerns, Uber has agreed to sell parts of Delivery Hero’s business to New York-based investment firm SSW Partners for USD 1.6 billion. The divestment covers operations in Austria, Chile, Cyprus, the Czech Republic, Ecuador, Greece, Norway, Poland, Portugal, Romania, Spain, Sweden, Turkey and Moldova. Hungary is notably absent from that list, meaning Foodora Hungary will remain under Uber’s ownership.
What the deal means for Hungary
The acquisition marks another significant step in Uber’s return to the Hungarian market. The company operated its ride-sharing service in Hungary until 2016, when legislative changes effectively forced it to suspend operations. Uber returned to Budapest in 2024, this time offering taxi services in partnership with licensed operators.
The purchase of Delivery Hero now gives Uber a direct presence in Hungary’s food delivery market as well, placing both urban mobility and food delivery businesses under the same corporate umbrella.
Foodora itself traces its roots back to NetPincér, one of Hungary’s best-known home-grown technology companies. Delivery Hero entered the Hungarian market in 2016 by acquiring the business, which operated under the Foodpanda brand before eventually being rebranded as Foodora.
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A global battle for food delivery
For Uber, the acquisition represents one of its largest strategic moves in recent years. The company aims to strengthen its food delivery operations as competition intensifies with global rivals including DoorDash, which acquired Wolt in 2021, and technology investment group Prosus.
Meanwhile, Delivery Hero has grown from a German start-up founded in 2011 into one of the world’s largest food delivery companies through a series of acquisitions. The company was included in Germany’s prestigious DAX stock index between 2020 and 2022 and only achieved sustained profitability in recent years after years of rapid expansion.
If approved by regulators, the deal will reshape the international food delivery industry—and in Hungary, it will place Foodora under the ownership of one of the world’s best-known mobility and technology companies.
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