Grubhub Sale Finalized; New CEO Will Take the Reins
Amsterdam-based Just Eat Takeaway (JET) has completed its all-stock acquisition of Chicago-based Grubhub, a deal reportedly valued at $7.3 billion. Grubhub will remain headquartered in Chicago; however, founder Matt Maloney has stepped down as CEO and will be succeeded by president and CFO Adam DeWitt.
“The new company is the market leader in Europe, Canada and Australia, with very strong positions in the most important markets in the United States,” said JET CEO Jitse Groen. “It is humbling to run such a company after our start in Holland more than 20 years ago. We welcome Matt and his team to this great company.”
Maloney, who is joining the JET management board, said, “Our companies share an unwavering focus on supporting restaurants and our communities around the world. Together we will continue to innovate and break new ground in our industry as we each have separately for the past 20 years.”