Just Eat Takeaway considers selling Grubhub as sales slump

Just Eat Takeaway.com may sell its American unit, as customers cut down food orders from the high at start of the pandemic. — AP Photo/File

Just Eat Takeaway.com NV said it’s considering a partial or full sale of its Grubhub unit as the food-delivery firm struggles to cope with the end of the pandemic.

The Amsterdam-based company said in a statement it’s exploring strategic actions for the US division, which it bought for US$7.3bil (RM31.16bil) last year.

Just Eat’s shares have plunged as investors lost faith in its plans to involve the division in industry consolidation, as it has yet to announce any tieups with the unit.

It also pared its projections for 2022 and now says gross transaction value will grow by mid-single digits percentage points year on year, down from an earlier estimate for a gain in the mid-teens percentage points.

After attracting a surge of customers as lockdowns took hold across its key markets, it’s now finding that people aren’t as keen to order food at home. – Bloomberg