Food hall concept Wonder has bought food-delivery platform Grubhub from Just Eat Takeaway.com for $650 million.
Wonder aims to make food more accessible by pioneering a new category of “Fast Fine” dining. The food hall concept offers multi-restaurant ordering allowing customers to order from upwards of 30 restaurants in a single order.
Wonder currently has 28 locations in the Northeastern US, with seven additional locations slated to open by the end of the year.
The company said the acquisition will bring together the convenience, speed and selection of first-party and third-party restaurants, groceries and meal kits in a single app order.
Grubhub has more than 375,000 merchants and 200,000 delivery partners across the country. All Wonder locations will also be available on Grubhub for third-party delivery following the deal.
“Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery,” said Marc Lore, founder and CEO of Wonder.
The transaction, which includes $500 million of senior notes and $150 million cash, is expected to close in next year’s first quarter, subject to customary closing conditions including regulatory approvals.
In addition, Wonder has announced another $250 million in capital raised exclusively from new investors to further its mission and growth.
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