Uber acquires German delivery group Delivery Hero for €12.7bn
Uber’s €12.7bn acquisition of Delivery Hero removes one of Europe’s few global tech champions and signals a sweeping consolidation in the food delivery sector.
Uber has agreed to buy German food delivery group Delivery Hero for €12.7 billion, offering €41.50 per share in a deal that marks a major consolidation in the global quick commerce sector.
Investors responded cautiously to the announcement. Delivery Hero shares fell 0.5 percent in Frankfurt to trade at €37.90, a notable discount to the offer price. This gap suggests the market anticipates significant regulatory scrutiny or views the extended timeline as a barrier to immediate value.
The deal's structure reflects the heavy antitrust pressure facing global tech mergers. Uber is acquiring Delivery Hero’s businesses in 50 markets spanning Europe, Asia, Latin America and the Middle East. To satisfy competition authorities, SSW Partners, a US investment firm, is buying the German group's operations in 14 markets where the two companies directly compete for around €1.4 billion.
For the European technology sector, the acquisition signals a sobering reality. Founded in Berlin in 2011, Delivery Hero was a rare success story that scaled from a local startup to a dominant international player operating in over 60 markets. Its absorption by an American corporation further depletes the continent's roster of homegrown tech giants capable of competing on the global stage.
Beyond traditional restaurant meals, the takeover gives Uber control of a massive quick commerce network. Delivery Hero had aggressively expanded into delivering small packages and convenience items, a capital-intensive business that has strained the finances of delivery platforms worldwide. Merging these operations allows Uber to pool resources and streamline logistics across overlapping regions.
Delivery Hero’s management has recommended that shareholders accept the offer. Niklas Oestberg, CEO and co-founder, defended the sale, stating that "Uber's global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero's strengths in local food delivery and quick commerce."
Uber CEO Dara Khosrowshahi framed the acquisition as a growth opportunity rather than a retreat. He said the merger would "extend affordable, reliable delivery to many millions more people in some of the world's most dynamic economies, while creating more opportunities for merchants and couriers."
With the transaction not expected to finalise until the second half of 2027, both companies face a long and complex integration process. European investors will be watching closely to see if another of the continent's few tech champions disappears into a foreign portfolio.
