Uber to acquire ezCater for $2.3 billion in all-cash deal

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Summary · why it matters

Uber Technologies has agreed to acquire Boston-based workplace catering platform ezCater in an all-cash transaction valued at $2.3 billion, combining ezCater's business with Uber Eats and Uber for Business. EzCater generated more than $2.5 billion in gross bookings over the trailing 12 months, growing in the high teens year over year, and is profitable on a non-GAAP operating income basis, with an average order value above $400. The platform lets businesses order from more than 140,000 restaurants nationwide and provides tools to manage ordering and food spending. Uber CEO Dara Khosrowshahi said catering is a big business and can be a huge revenue stream for restaurants, while ezCater CEO Nihad Rahman said the combination would give the company access to Uber's broader network of customers, merchants and couriers. The deal is expected to close in the coming months, subject to regulatory approvals and customary closing conditions. Separately, Uber Freight announced that Erin Mitchell has joined the Chicago-based company as senior vice president of implementation, leading customer onboarding for its Transportation Management business; she previously served as chief operating officer at YMX Logistics and held an executive position at Kraft Heinz.

Impact on assets 2

Robotics & Physical AI▲
Uber Technologies Inc
UBER
▲ PositiveCapitalrelevance

Uber agreed to acquire ezCater for $2.3 billion in an all-cash deal, expanding Uber Eats and Uber for Business.

Consumer Staples▲

Off-coverage companies 2

ezCateri
Private▲ PositiveCapitalrelevance

ezCater is being acquired by Uber for $2.3 billion in cash, giving it access to Uber's customer, merchant and courier network.

YMX Logisticsi
Private± Mixedrelevance