Uber Acquires Delivery Hero, Parent Company of Baemin... Baemin Also Included

Baemin and Foodpanda Included in Acquisition Deal
Uber’s Mobility and Delivery Services
to Expand from 34 to 58 Countries

Delivery Hero, the parent company of Baemin (Baedal Minjok), will be acquired by Uber. As a result, Baemin will also become a subsidiary of Uber.

On July 16 (local time), Uber announced that it will acquire Delivery Hero for approximately 14.8 billion dollars (about 21.92 trillion won).

Uber has offered shareholders a tender price of 41.5 euros per share. With this acquisition, Uber will secure a 53% stake in Delivery Hero.

Uber will also acquire platforms operating in 50 countries, including Baemin and Foodpanda.

Initially, Uber had considered acquiring Baemin separately, but with the acquisition of Delivery Hero, Baemin will also be included. Delivery Hero acquired an 88% stake in Baemin in 2019 for 3.6 billion euros (about 4.8 trillion won).

Services included in Uber's acquisition target span 50 markets, such as Baemin, Foodpanda, Talabat, PedidosYa, and HungerStation.

With this acquisition, the number of countries where Uber provides mobility and delivery services will increase from 34 to 58.

Certain services with business overlap, such as eFood and PedidosYa, will be sold to SSW Partners in the United States.

Uber plans to complete the acquisition by the second half of 2027. Delivery Hero’s headquarters will remain in Berlin until 2029, and operations will continue with no workforce changes. In addition, Uber plans to invest 2 billion euros in Germany over the next five years.

Uber CEO Dara Khosrowshahi stated, “Delivery Hero owns beloved local brands and has established a leading position in the world’s fastest growing delivery service markets. By integrating the two companies’ platforms, we will provide reliable delivery services at reasonable prices and create more opportunities for sellers and riders alike.”

He added, “By doubling the number of markets for mobility and delivery services, our proven platform will deliver long-term value to both customers and shareholders.”

Kristin Skogen Lund, Chair of Delivery Hero, said, “Food delivery is a fiercely competitive industry where economies of scale are essential. Joining forces with a strong partner is the best way to secure Delivery Hero’s future competitiveness.”

This content was produced with the assistance of AI translation services.