A 63pc premium for Just Eats? Major investor Caledonia is unimpressed
The food delivery sector is red-hot for deals despite some spectacular blow-ups. That land grab has come to one of the high-profile fund’s core holdings.
One of the top global players, Just Eat Takeaway, agreed to a €4.1 billion ($6.9 billion) takeover last week. Just Eat delivers nearly 1 billion takeaway orders a year and has 80 million customers and 800,000 restaurants on its books. It owns Menulog in Australia, operates in 18 countries and makes most of its money in the United Kingdom, Ireland and Europe – Germany, Poland and the Netherlands – where its drivers wear bright orange jackets.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
