US-based food delivery giant DoorDash has made a “possible cash offer” to buy UK-headquartered Deliveroo, which operates a similar service across markets in Europe.
According to a filing with UK regulators, Deliveroo received a cash offer of 180 pence per Deliveroo share, amounting to roughly $3.6 billion. The company said it would “be minded to recommend such an offer to Deliveroo shareholders” pending certain financial terms.
A spokesperson for DoorDash declined to speak on the matter.
Deliveroo shares jumped to their highest level in over three years following Deliveroo’s announcement.
Founded in 2013, the delivery firm operates in European markets including the UK, France, Belgium, Ireland and Italy, as well as Singapore, the UAE, Kuwait, and Qatar.
The proposed acquisition would give DoorDash—which still operates mostly in the US—stronger footing internationally. It follows the company’s 2021 purchase of quick-delivery service Wolt, through which it gained access to markets in Japan and many parts of Europe.
DoorDash must make “a firm intention to make an offer for Deliveroo” by May 23, 2025, according to the Deliveroo filings.
Consolidation continues for food delivery
This is just the latest development in the ongoing consolidation of the food industry. In 2020, Netherlands-based Takeaway.com merged with the UK’s Just Eat to form Just Eat Takeaway.com—an entity now set to be acquired by investment firm Prosus for around $4.3 billion.
In 2021, Just Eat Takeaway.com acquired US-based Grubhub, but sold the company in 2024 to NYC-based Wonder for less than 10% of the original purchase price.
Deliveroo, meanwhile, won the unfortunate title of “worst IPO in London’s history” in 2021 when it lost over a quarter of its value on its first day of trading. Earlier this year, the company exited Hong Kong after selling its business there to competitor Delivery Hero.
Analysts have said that the DoorDash-Deliveroo deal would not face many regulatory hurdles such as antitrust issues because the two companies currently have minimal geographical overlap.
