Grubhub Completes Acquisition of Eat24

Ongoing consolidation in food delivery, which seems to be maturing into an aggretator business not much different than online business listings. This is a market ripe for attack by companies offering personal engagement with customers seeking curated food — pesticide-free, hormone-free, etc.With the close of the Eat24 deal, Grubhub has completed all three of the acquisitions discussed on its second quarter earnings call, including Foodler and OrderUp. In connection with these acquisitions, Grubhub has refinanced its existing credit facility with a new five-year, $350 million committed facility, consisting of a $125 million term loan and an expanded $225 million revolving credit facility.

Source: Grubhub Completes Acquisition of Eat24


Author: Mitch Ratcliffe

Mitch Ratcliffe is a veteran entrepreneur, journalist and business model hacker. He operates this site, which is a collection of the blogs he's published over the years, as well as an archive of his professional publishing record. As always, this is a work in progress. Such is life.