Uber agrees to acquire Delivery Hero for $14.8 billion in cash, expanding into 99 markets. See how the deal, financing and timeline break down.
Uber has agreed to acquire Delivery Hero in a deal that values the Berlin based food delivery company at $14.8 billion, the two companies confirmed Thursday. The agreement marks one of the largest consolidations yet in the global food delivery business and would dramatically expand Uber's international reach.
At a Glance
- Uber's voluntary offer values Delivery Hero at $14.8 billion, or €41.50 per share in cash.
- The price is about 127% above Delivery Hero's unaffected three month average share price before May 8, 2026.
- SSW Partners will separately buy Delivery Hero operations in 14 markets for roughly $1.6 billion.
- Prosus, the second largest shareholder, has agreed to tender its 17% stake.
- Closing is expected in the second half of 2027, subject to regulatory approval.
How the Uber Delivery Hero Acquisition Came Together
Uber's offer of €41.50 per share follows an earlier proposal of €33 per share made in May, according to reporting from the Wall Street Journal. The new price represents about a 34% premium over Delivery Hero's three month average share price just before Thursday's announcement. Delivery Hero's management and supervisory boards said they unanimously back the offer and plan to urge shareholders to tender their shares.
Prosus, which holds the second largest stake in Delivery Hero, has agreed to tender its roughly 17% position. Combined with Uber's existing 24.77% direct stake and about 11.74% of additional economic exposure through derivatives, Uber's total economic interest in the company would climb to around 53%.
What Uber Is Actually Buying
Under the arrangement, Uber will take over Delivery Hero's operations across 50 markets, businesses that generated $42 billion in gross bookings last year. That includes recognizable regional brands such as Baedal Minjok in South Korea, Glovo in several countries, HungerStation in Saudi Arabia, talabat across the Middle East, and PedidosYa throughout Latin America.
A separate deal carves out the rest. New York investment firm SSW Partners will acquire Delivery Hero's operations in 14 other markets, including foodora in Austria, Norway and Sweden, Glovo in Spain and Poland, and Yemeksepeti in Turkey, for about $1.6 billion. Those businesses produced $11 billion in gross bookings in 2025, and SSW says it intends to find new buyers for them once its purchase closes.
Scale, Financing and What Happens to Berlin
Once combined, Uber's mobility and delivery operations will span 99 markets, up from 79, and the number of markets where both services overlap will nearly double, from 34 to 58. Together, the businesses posted pro forma gross bookings of $236 billion in 2025.
Uber intends to pay for the deal using cash on hand plus new debt, backed by a committed bridge facility of about €14 billion. The company expects the acquisition to boost non GAAP earnings per share immediately, with high single digit percentage accretion by the third year.
Uber has pledged to keep Delivery Hero's Berlin headquarters open and preserve its German workforce through at least 2029. It also plans to invest €2 billion in Germany by 2031, covering corporate operations, domestic expansion and autonomous vehicle projects.
What Regulators Still Have to Decide
The deal cannot close until it clears merger control reviews in multiple jurisdictions, a process Uber expects to wrap up in the second half of 2027. Given the scale of overlap between the two companies' delivery footprints, antitrust scrutiny is likely to shape how, and whether, the transaction proceeds on schedule.
Frequently Asked Questions
What is Uber Hero?
There is no separate entity called Uber Hero. The phrase generally refers to Uber's pending acquisition of Delivery Hero, the Berlin based delivery company behind brands like talabat and Glovo.
Is Uber acquiring Delivery Hero?
Yes. Uber announced Thursday that it has agreed to acquire Delivery Hero in a deal valuing the company at $14.8 billion, pending shareholder tenders and regulatory clearance.
Will Uber acquire Delivery Hero?
The takeover is agreed and backed by Delivery Hero's boards and major shareholder Prosus, but it still needs regulatory approval, with closing expected in the second half of 2027.
