ANKARA: International online food ordering platforms network Delivery Hero agreed to acquire Turkey’s Yemeksepeti for USD 589 million transaction, the company said in a statement.
We have looked at many businesses in our industry around the world, but we have rarely seen key performance indicators as exceptional as those displayed by Yemeksepeti,” said Niklas Östberg, CEO of Delivery Hero, in the statement. “Customer cohorts and reorder rates are among the best in the world and far superior to those shown by our listed peers.”
The acquisition is being funded through cash and shares, Delivery Hero said. Shareholders of Yemeksepeti would become shareholders in Delivery Hero as part of the transaction.
As part of the deal, Yemeksepeti’s CEO and cofounder Nevzat Aydin will continue to lead the division but also join Delivery Hero as a senior adviser for the wider business.
We are very proud to have built a company that has changed the way people think and order food in Turkey,” he said in the statement. “During our 15 year history we have had many approaches from global and local investors; however we were waiting for the right time and the right partner. Today, I am delighted to team up with a company whose global ambitions, corporate culture and way of doing business are so aligned with ours.”
Berlin-based Delivery Hero said Yemeksepeti is profitable, and processes more than 3 million orders a month in its markets. Yemeksepeti is active in Turkey and Greece, as well as Middle Eastern markets such as Qatar, Jordan and Saudi Arabia via the ordering platforms foodonclick.com and ifood.jo.
