Just Eat is being acquired by a Dutch-based technology investment firm

The group said it wants to create a “European champion” for food delivery and take Just Eat private. It is expected to benefit from Prosus’ new investment and AI technology.

Prosus already has a 28% stake in rival firm Delivery Hero, but Just Eat said the offer was unanimously supported by its management and board.

Just Eat added that its current leadership would stay the same under the agreement, and it would continue to be based in Amsterdam.

The delivery platform announced the new takeover alongside results which revealed a 35% rise in pre-tax profits to €460m (£382m) in 2024, driven by an improvement in the UK and Ireland through lower costs of fulfilling orders and more efficient marketing.

Speaking about Just Eat, Prosus said: “Its success within the United Kingdom, Germany and The Netherlands, has led to profitable, cash generative operations, with considerable growth potential, which Prosus intends to build upon.

“As a leading global food delivery investor and operator, with a proven track record in successfully scaling ecommerce platforms, Prosus is well positioned to invest in and accelerate growth at Just Eat to unlock value beyond its standalone potential as a listed business.

“Prosus’ highly effective growth strategy at iFood in Brazil provides a ready guide to transform Just Eat’s growth path through renewed focus across tech, product features, demand generation, quality and service.”

Prosus chief executive Fabricio Bloisi added: “Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships, and world-class logistics, powered by innovation and AI.

“We believe that combining Prosus’ strong technical and investment capabilities with Just Eat’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders.”