Listed in London, and one of the main international players in food delivery, Just Eat has bought the Italian brand PizzaBo (now Hellofood.it), thus increasing its presence in Italy where it is already present with its own brand.
THE VALUE OF TRANSACTION – The acquisition is part of a more far-reaching operation that also encompasses the British company’s acquisition of the site La Nevera Roja in Spain, hellofood Brazil, and hellofood Mexico. There are two German companies for sale: Rocket Internet and foodpanda, which is financed by the first. In a statement that does not specify the counter value of the Italian asset, the transaction is worth a total of 125 million euro. In 2014, the four companies have incurred an overall loss of 16.3 million euro gross but in 2015 the delivery business has grown by a collectively achieved 83%.
PIZZA BO OWNERSHIP – According to journalistic sources, PizzaBo was acquired by Rocket Internet about a year ago for 51 million euro. Merely one year later it has already changed ownership, thus testifying to how the transition period in the food delivery market has not been concluded yet. Quite the contrary, it is still hauling the investment phase, including acquisitions, thereby aiming to consolidate the main players in the international sector.
FOOD DELIVERY MARKET TRENDS – At stake is the leading role in a market that, according to Rocket Internet’s own study, will be worth 90 billion dollars in 2019. In other words, 16% of the total turnover of the catering industry worldwide. Major European companies are British or German. Besides Just Eat, which in 2015 reported a global growth in orders placed in 2014 of 57%, there is also Deliveroo (also present in Italy) among the top companies. Coming in second are Foodora as well as Rocket Internet/ foodpanda.
