On 21 July 2023, Delivery Hero SE, a leading global food delivery company, announced its acquisition of all outstanding minority shareholdings, comprising 37%, in HungerStation Holding Limited, the sole shareholder of HungerStation Company Ltd in the Kingdom of Saudi Arabia (KSA). The transaction was valued at USD 297 million, a price deemed highly attractive by Delivery Hero.
HungerStation holds a significant position as the top food delivery player in Saudi Arabia, acting as a vital link between over 10,000 partners and customers in the region. Its impressive revenue growth of 36% to EUR 609 million in FY 2022 and positive EBIT, including group costs, surpassing EUR 50 million, further reinforced its appeal as a strategic asset for Delivery Hero.
With this complete ownership, Delivery Hero aims to strengthen the bond between HungerStation and its wider ecosystem. The integration will facilitate seamless knowledge sharing and technological collaboration, enhancing the overall food delivery experience for customers in Saudi Arabia.
Niklas Östberg, CEO, and Co-Founder of Delivery Hero, expressed his confidence in Saudi Arabia’s 2030 vision and the nation’s vast potential. He reaffirmed Delivery Hero’s commitment to supporting the country’s ongoing success through HungerStation. Östberg also shared his enthusiasm for continuing to develop exceptional products and delivering unparalleled experiences to their Saudi customers.
The acquisition of HungerStation further solidifies Delivery Hero’s position as a dominant player in the food delivery industry, expanding its reach and influence in key markets globally. As the demand for food delivery services continues to grow, this strategic move allows Delivery Hero to tap into Saudi Arabia’s thriving market and capitalize on its immense growth opportunities.