---
title: "Just Eat Offloads Grubhub at Staggering £65 Billion Loss in Wonder Deal"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-11-14T06:19:06+00:00"
modified: "2024-11-14T06:19:06+00:00"
date: 2024-11-14
canonical: "https://stockmark.it/just-eat-offloads-grubhub-at-staggering-65-billion-loss-in-wonder-deal/"
category: "Food and Drink Industry"
categories: ["Food and Drink Industry"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/2023/01/just-eat-st.jpg?fit=800%2C400&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Just Eat Offloads Grubhub at Staggering £65 Billion Loss in Wonder Deal

**Published:** November 14, 2024
**Author:** Stockmark.IT Website
**Categories:** Food and Drink Industry
**Featured image:** ![A person wearing a grey jacket, cap, and face mask sits on a bench outdoors, looking at a mobile. They have a large orange JUST EAT delivery rucksack on their back. Green barriers and a tree are in the background. @ stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/2023/01/just-eat-st.jpg?fit=800%2C400&quality=89&ssl=1)

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In a dramatic turn of events, Just Eat Takeaway has finalised the sale of its American subsidiary Grubhub for £650 million to Wonder, a New York-based startup, marking a devastating 91% reduction from its initial £7.3 billion purchase price in 2020.

The deal, spearheaded by former Walmart executive Marc Lore, is scheduled to complete in the first quarter of 2025, leaving Just Eat with mere net proceeds of “up to” £50 million after costs. This substantial write-down reflects the challenging market conditions and fierce competition faced by the delivery service since its ambitious pandemic-era acquisition.

Just Eat’s shares responded positively to the announcement, surging 14.7% to close at £10.80, despite the significant loss crystallised by the sale. Market analysts at Panmure Liberum characterised the disposal as “unalloyed good news,” highlighting the potential for improved cash flow generation without the burden of the struggling American operation.

The sale comes after Just Eat formally listed Grubhub for sale two years post-acquisition, pressured by activist investors and challenged by high taxes and delivery fee restrictions in New York City. The company had struggled to compete effectively against dominant players DoorDash and Uber Eats in the US market.

Jitse Groen, Just Eat’s chief executive, defended the sale as providing “the right home for Grubhub and its employees,” whilst emphasising the transaction’s potential to enhance the company’s cash generation capabilities and accelerate growth in its core European markets.

Deutsche Bank analyst Silvia Cuneo noted that the disposal removes a significant obstacle in Just Eat’s growth trajectory, potentially setting the stage for improved performance in the company’s established markets across Germany, Canada, Australia, and other territories.

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