Germany: One of the biggest events online Germany could share this week was the takeover of Pizza.de by Delivery Hero. Although not disclosed, it looks that the deal has been an all-cash one without any shares being exchanged. After this gigantic acquisition, the total valuation of Delivery Hero now stands at more than $1 billion.
The acquisition of Pizza.de is described by Delivery Hero’s CEO Niklas Östberg as “the largest news in the history of Delivery Hero”. Delivery Hero covers approximately 75,000 restaurants in 23 countries. About half of the company's 800 people staff is based in Berlin.
The company says that both German brands of Delivery Hero (Lieferheld and Pizza.de) will continue operating as separate brands. This because Pizza.de is particularly popular among students and there is no point tampering with the set formula.
Although Pizza.de and Delivery Hero were rivals before publicly battling in and out of court, with the takeover of Pizza.de such things will remain a thing of the past.
Talks of taking over Lieferando, another big player in the German market, have also taken place in the past, but appearantly that didn't work out After this acquisition, Östberg has revealed his wish to compete with global player Just Eat. Let the food fight continue...