BERLIN - Uber on July 16 launched a public takeover offer for Delivery Hero that values the German food delivery company at around US$14.8 billion (S$19.1 billion), a deal that will allow the ride-hailing giant to better compete with rival DoorDash outside the United States. 

The US company said it’s signed an agreement with Berlin-based Delivery Hero, in which Amsterdam-listed internet investment firm Prosus holds a significant stake.

This comes as the food delivery sector consolidates globally, driven by slowing growth and heavy competition. A number of Delivery Hero’s peers in Europe have been targeted. DoorDash agreed to buy the UK’s Deliveroo in 2025, while Prosus acquired Just Eat Takeaway.com. 

San Francisco-based Uber has been making acquisitions overseas to strengthen its position internationally, where hometown rivals like DoorDash are making similar moves. Delivery Hero’s international presence would give Uber have a better view into markets where it’s behind DoorDash’s Europe-focused Wolt unit.

Delivery Hero has been conducting a strategic review following pressure from shareholders, which include Aspex Management, the hedge fund that succeeded in ousting founder Niklas Östberg and has lobbied for more asset sales. BLOOMBERG