Uber is set to buy Delivery Hero, the German food-delivery company, in a $14.8 billion cash deal. This move will make Uber Eats a much bigger force across Europe, Asia, the Middle East, Africa, and Latin America—pretty much everywhere Delivery Hero is popular.
Uber’s offer comes out to €41.50 per Delivery Hero share, which values the whole business at that $14.8 billion mark. Since Uber already holds some shares, the actual transaction will cost them closer to $13.7 billion. They expect to wrap things up in the second half of 2027, as long as shareholders agree and regulators give a green light.
If this goes through, Uber’s platform would suddenly cover 99 markets globally, and combined, Uber and Delivery Hero would report $236 billion in gross bookings for 2025. Delivery Hero’s top brass all support the deal and plan to recommend that shareholders take the offer after they review the official document.
Uber’s proposal is a solid one, too—about 34% higher than Delivery Hero’s average stock price over the past three months. Before this move, Uber already owned almost 25% of Delivery Hero’s voting shares, plus had a further stake through derivatives.
Prosus, which holds just under 17% of Delivery Hero, has already pledged to sell its shares to Uber. Counting those, Uber hits an economic interest of around 53% in Delivery Hero.
For full control, Uber needs to nail down at least 50% plus one share of Delivery Hero’s capital, including what it already owns. On top of that, it still has to run the gauntlet of approvals—merger authorities, financial regulators, the works.
To smooth things over with regulators concerned about competition, Delivery Hero will sell businesses in 14 countries to SSW Partners, a New York firm, for about $1.6 billion. These are markets where Uber Eats and Delivery Hero overlap, like Spain, Portugal, Poland, and several others across Europe. Uber won’t get to run these businesses—SSW Partners plans to find strategic buyers for them instead.
All told, about 50 other markets, which delivered roughly $42 billion in gross bookings in 2025, will become part of Uber’s empire. Uber is also picking up big regional brands with this deal, like Talabat in the Middle East, PedidosYa in Latin America, Baedal Minjok in South Korea, and parts of Foodpanda and Glovo spread across several continents.
Uber’s CEO, Dara Khosrowshahi, called it a chance to reach millions more customers and create better opportunities for merchants and drivers. He says the acquisition should boost Uber’s earnings per share right away, and keep growing after three years.
Uber has promised to keep Delivery Hero’s headquarters and team in Berlin until at least 2029. They’re also pledging €2 billion of investment in Germany over five years, including expanding the team there, scaling up nationwide, and working on autonomous vehicles with German carmakers.
This deal is happening as the whole food-delivery industry is reshuffling. Growth has slowed since the pandemic peak, profits are under the microscope, and regulators are looking closer at gig work. Big rivals like DoorDash, Just Eat Takeaway, and Prosus are all chasing deals to stay competitive.
Delivery Hero, which started in Berlin in 2011, runs a patchwork of food, grocery, and quick-commerce brands in different regions. If the acquisition gets approved, Uber will almost double the number of markets where it offers both rides and delivery—from 34 up to 58.
