(Reuters) -Europe’s biggest meal delivery firm Just Eat Takeaway said on Wednesday it struck a deal to sell its U.S. unit Grubhub to Wonder for $650 million.
The Amsterdam-listed firm had been looking to offload Chicago-based Grubhub since as early as 2022, after acquiring it in 2020 in a $7.3 billion all-stock deal.
Wonder is a food-delivery startup led by former Walmart (NYSE:WMT) executive Marc Lore.
Advanced talks between the two companies were first reported by the Wall Street Journal on Tuesday.
The transaction is expected to be completed in the first quarter of 2025, and Just Eat said that it will not impact its full-year guidance and it retains no material liabilities associated with Grubhub.
This post appeared first on investing.com