Uber to acquire catering giant ezCater for $2.3 billion

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Summary · why it matters

Uber Technologies announced on the 6th that it will acquire the U.S. catering ordering platform ezCater for $2.3 billion. The all-cash deal strengthens its fastest-growing delivery business. Founded in 2007, ezCater provides a service that lets companies order food from caterers for internal events, meetings, and workplace meals, and its gross bookings over the past 12 months exceeded $2.5 billion. With this acquisition, Uber plans to combine ezCater's catering business with the restaurant network of Uber Eats and the corporate customer base of Uber for Business. In July, Uber also agreed to acquire Germany's Delivery Hero for $14.8 billion, aiming to become the world's largest food delivery group outside China, and this acquisition is part of that series of expansion moves. According to analysts, DoorDash holds the majority share of the U.S. food delivery market, and the ezCater acquisition is expected to help Uber close that gap. The acquisition requires regulatory approval and is expected to close within the next few months.

Impact on assets 3

Consumer Discretionary▼
Robotics & Physical AI▲
Uber Technologies Inc
UBER
▲ PositiveCapitalrelevance

Uber announced a $2.3 billion all-cash acquisition of ezCater to strengthen its fastest-growing delivery business.

Off-coverage companies 1

ezCateri
Private▲ PositiveCapitalrelevance

ezCater is being acquired by Uber for $2.3 billion in an all-cash deal.