Just Eat is selling off Grubhub to fancy food hall delivery startup Wonder in a deal worth $650 million. The transaction is expected to close in the first quarter of 2025, subject to regulatory approvals. Wonder is owned by businessman Marc Lore, the former Walmart e-commerce CEO and part-owner of the Minnesota Timberwolves.
Wonder started as a multi-restaurant food truck service delivering fine dining and evolved into food hall hubs where staff quickly cook pre-prepared foods crafted by big-name chefs like Bobby Flay. Customers can order from “upwards of 30 restaurants” from the Wonder app, combining them into one delivery.
With Grubhub coming under Wonder’s belt, the company plans to integrate the delivery app into its platform. In a press release, Lore says Wonder will soon offer a “super app for mealtime” that includes “a curated selection of Grubhub’s restaurant partners directly in the Wonder app,” as well as groceries and meal kits (Wonder also owns Blue Apron). It also plans to integrate Wonder locations into the Grubhub experience for third-party deliveries.
According to The Wall Street Journal, Just Eat purchased Grubhub for more than $7 billion in 2021, and now Wonder will assume a debt of $500 million in its acquisition. Wonder has 28 locations in the Northeastern US, including New York City, and will open another seven by year-end.
