Just Eat has announced the sale of its businesses in Benelux (Belgium, the Netherlands, and Luxembourg) to Takeaway.com.
The €22.5m (£19m) sale was announced by the food delivery service today (2 August) with 80 per cent paid on completion and the further 20 per cent to be paid six months after.
The chief executive and founder of Takeaway.com, Jitse Groen, explained that the buy was a step forward as a competitor in the hope to be seen as a sustainable leader in the markets it operates in.
David Buttress, chief of Just Eat, commented that the company was second place in Benelux while being the leader elsewhere. He said: “We have always been clear that the competitive dynamics of our industry demand clear market leadership to drive sustainable profitability. The disposal of our Benelux business delivers on that strategy.”
The sale come following a successful year for Just Eat after revamping their marketing strategy and spending £26m on ads in 2015, seeing the company reap the benefits with a 57 per cent rise in orders in one year. They have also spent time investing in technology with the announcement of collaborative food orders with the help of Apple TV.