Grab has agreed to acquire Delivery Hero’s Foodpanda business in Taiwan for $600 million in cash. This marks the first expansion for the Southeast Asia-based ride-hailing and delivery firm outside of the region.
The acquisition is part of Delivery Hero’s strategic review, as the German company looks to divest Foodpanda. The move positions Grab to directly compete with Uber Eats in the Taiwanese market.
This deal represents a significant step for Grab, extending its food delivery services beyond its established South-east Asian presence. The company is paying $600 million for the Foodpanda operations in Taiwan.