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Uber Technologies, the U.S.-based ride-hailing and delivery company, is set to acquire the German online food-delivery group Delivery Hero in a deal valued at $14.8 billion, while the Turkish food-delivery platform Yemeksepeti will be sold separately to the New York investment firm SSW Partners.
Under the voluntary takeover offer, Uber will pay $13.7 billion to acquire the Delivery Hero shares it does not already own, offering shareholders €41.50 ($47.60) in cash for each share, according to a joint statement.
The acquisition covers Delivery Hero's operations in 50 markets across Asia, the Middle East, Latin America and Africa.
Alongside the Uber deal, Delivery Hero reached a separate agreement with SSW Partners, a U.S. investment firm, which will acquire Delivery Hero businesses in 14 markets for about $1.6 billion. The portfolio includes Yemeksepeti in Türkiye as well as operations in Austria, Czechia, Greece, Romania, Spain, Chile and Ecuador.
Founded in 2001, Yemeksepeti was acquired by Berlin-based Delivery Hero for $589 million in 2015 in what was then Türkiye's largest internet acquisition.
The platform now serves more than 30 million users through a network of around 90,000 business partners across all 81 provinces of Türkiye and the Turkish Republic of Northern Cyprus (TRNC). It also offers quick-commerce and digital payment services, according to Delivery Hero's 2025 annual report.
Delivery Hero's 2025 annual filing shows that Yemeksepeti's four subsidiaries ended the year with combined equity of €46.4 million ($53.2 million) and a net loss of €32.4 million.
Across its global operations, Delivery Hero generated €49.2 billion in gross merchandise value (GMV), €14.8 billion in total segment revenue and €903 million in adjusted EBITDA in 2025.
The transaction adds to a wave of consolidation in Türkiye's delivery market after Uber paid $700 million for an 85% stake in Trendyol Go in 2025 and struck a $435 million deal for Getir's delivery business earlier this year.
"We are pleased to acquire these market-leading businesses," Josh Steiner and Antonio Weiss of SSW Partners said in a joint statement. "We will support management to ensure that these businesses continue to grow, invest in their people and deliver exceptional service to their customers."
Uber pledged to retain Delivery Hero's headquarters in Berlin and keep its workforce there unchanged until at least 2029.
The company also committed to investing €2 billion in Germany over the next five years, focusing on expanding its local business, autonomous vehicle deployments and partnerships with the country's automotive industry.
"Delivery Hero's talented team has built an extraordinary business, with beloved local brands and leading positions across many of the world's fastest-growing delivery markets," Uber Chief Executive Officer Dara Khosrowshahi said.
Delivery Hero Chief Executive Officer Niklas Ostberg called the agreement the right partnership to build on the company's strengths in food delivery and quick commerce. "Together, we will be even better positioned to invest in innovation, expand our Everyday App strategy, and continue delivering value to customers around the world," he added.
Uber plans to finance the acquisition through existing cash reserves and new debt backed by a committed bridge facility of about €14 billion.
Before announcing the offer, the company already held a 24.8% voting stake in Delivery Hero and additional economic exposure of about 11.7% through equity derivatives. Technology investor Prosus has agreed to tender its roughly 17% stake in the offer, lifting Uber's total economic interest to around 53%.
The transaction is expected to close in the second half of 2027, subject to shareholder approval and regulatory clearances.
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