As part of the deal, JustEat will get a minority holding in Foodpanda India. JustEat India currently partners over 2,000 restaurants
The India arm of Rocket Internet-backed online food ordering platform Foodpanda on Friday said it has acquired rival JustEat’s India business.
The company had recently acquired the food delivery business, TastyKhana, in India.
As part of the deal, JustEat will get a minority holding in Foodpanda India. The company did not disclose the details of the deal. Rohit Chadda, co-founder and managing director, Foodpanda India, said: “These are exciting times for us. There has been a tremendous response to our brand and service, and with this acquisition we’re confident that when people think of food delivery, there will be just one answer, Foodpanda.”
JustEat was launched in Denmark in 2001 and it traded on the London Stock Exchange. At present, JustEat India partners with over 2,000 restaurants. Ritesh Dwivedy, CEO, Just Eat India, said: “ Foodpanda has built a great company in India and around the globe, and we are very excited to partner with them going forward. We believe that we can combined bring an even better service to our customers in India.”
Globally, Foodpanda operates in 39 countries across five continents and was launched in India in May 2012. Following the acquisition of TastyKhana and JustEat, Foodpanda is present in over 200 cities and partners over 12,000 restaurants.