German Food Delivery Hero announced that it has agreed to sell its food delivery platform business in Taiwan to Grab Holdings for US$600 million in cash, as the German company optimizes its balance sheet by streamlining its business portfolio. The deal is the first move by Food Delivery Hero since launching a strategic review last year, and also Grab’s first foray into markets outside of Southeast Asia. The deal, which is subject to regulatory approval, is expected to close in the second half of 2026, the company said.
Delivery Hero’s stock price has continued to decline over the past year, and the company announced in December that it had begun a review of its partnerships, assets, and business operations in various countries.
Takeout Hero said on Monday that the net proceeds from the sale of its Panda takeout business in Taiwan will be used to repay debt and optimize the company's capital structure. The sale of Panda Takeout is subject to regulatory approval and is expected to be completed in the second half of 2026, the company said.
European stocks fell overall due to the conflict in the Middle East, but Takeaway Hero shares rose 3.5% in early European trading; Grab shares fell 1.1% in U.S. pre-market trading.
The CEO of Takeaway Hero said in an interview earlier this month that the sale of Taiwan Panda's takeout business comes at a time when the company is focusing on core regional markets and striving to achieve profitability in major markets by the end of next year. Its core markets include Argentina, Spain, South Korea and the Middle East.
Grab said the transaction is expected to bring incremental adjusted earnings before interest, taxes, depreciation and amortization to the company of at least US$60 million in 2028.
The ride-hailing company, backed by SoftBank Investment, reiterated its guidance for this year, expecting adjusted earnings before interest, tax, depreciation and amortization to be between $700 million and $720 million.
Grab CEO Chen Bingyao said in a statement: "This is a natural next step for Grab, and our accumulated experience in Southeast Asia is highly consistent with this market. Our long-term expertise in operating complex food delivery logistics in high-density, high-traffic cities is well suited to Taiwan's busy urban environment."
The company said that depending on the timing of the closing, the transaction will increase Grab's 2026 group revenue forecast, and the company's current guidance is between US$4.04 billion and US$4.1 billion.
The Southeast Asian technology company has signaled that it remains committed to acquisitions while maintaining strict standards for transactions. In February this year, Grab acquired US investment app Stash Financial for $425 million (including debt) to expand its product matrix.
Grab plans to complete the comprehensive platform migration of Taiwan Panda Food delivery users, cooperative merchants and delivery partners to the Grab app by early 2027.