Delivery Hero Eats Up Turkey’s Yemeksepeti For A Record $589M

TechCrunch

Delivery Hero, the billion-dollar takeout food service based in Berlin, is making another big acquisition as it continues to scale up its business worldwide. It’s buying Turkey’s Yemeksepeti for $589 million in a cash and shares deal that will also see investor General Atlantic becoming shareholders in Delivery Hero.

Yemeksepeti — Turkish for « food cart » — is Delivery Hero’s first move into Turkey, and the deal is groundbreaking in another respect: the company claims it is the largest-ever acquisition in the food-ordering sector.

That’s saying something when you consider just how much activity the sector has seen.

Other significant M&A and funding moves in the takeout food space have included Seamless and GrubHub merging in 2013, a deal in which the price and respective company valuations were never disclosed.

A notable moment from earlier this year was when Rocket Internet — another Berlin-based e-commerce concern — invested $586 million in Delivery Hero, which in turn picked up nine smaller…

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