Slovakia’s leading food delivery service, Bistro.sk will soon be under new ownership, as Just Eat Takeaway has entered into an agreement to acquire the business from Ringier Axel Springer Media. The value for the transaction is approximately €50 million and is expected to close later this year.
Bistro.sk will be added to the fold, assuming Just Eat’s global brand identity, and the latter gains approximately 2,000 online restaurants and an active customer base of over 400,000.
This acquisition comes just five months after the Amsterdam-based food giant raised €1.1 billion via a two-tranche convertible bonds offering, for “strategic opportunities which may arise”. I guess we’re now starting to see the fruits of this labour.
“With the acquisition of Bistro.sk we are adding a profitable and highly complementary online food delivery platform to our geographical footprint. The business has strong foundations we can build on: a number one position in online food delivery, market leading top-of-mind brand awareness, and attractive consumer cohorts,” commented Just Eat Takeaway’s COO Joerg Gerbig.