Grab Holdings (NASDAQ:GRAB) today announced a definitive agreement to acquire the Taiwanese operations of foodpanda from Delivery Hero for $600 million in cash.
The transaction, executed on a cash-free and debt-free basis, marks Grab's first major expansion outside of Southeast Asia and establishes a footprint in its ninth international market.
The acquisition comes at a strategic turning point for both companies.
For Grab, the move into Taiwan’s high-density, mobile-first market is viewed as a natural extension of its "super-app" ecosystem.
The company intends to integrate its proprietary AI-driven products, including personalized restaurant recommendations and the GrabMaps logistics engine, across foodpanda’s existing network in 21 Taiwanese cities.
In 2025, foodpanda’s Taiwan business generated approximately $1.8 billion in Gross Merchandise Value (GMV) and maintained a positive adjusted EBITDA.
For Delivery Hero, the divestment serves as a primary milestone in an ongoing strategic review aimed at optimizing its capital structure.
The Berlin-based company confirmed that proceeds from the sale will be utilized to repay debt and support general corporate purposes.
This deal follows a previously blocked attempt by Uber Eats to acquire the same business in late 2024, which Taiwan's Fair Trade Commission (FTC) halted due to monopoly concerns.
Grab’s entry as a new market participant is expected to face a different regulatory scrutiny process as it seeks to compete with established local players.
The transaction is subject to regulatory approvals and customary closing conditions, with a target completion date in the second half of 2026.
Grab stated that the acquisition is expected to be accretive to its 2026 group revenue guidance of $4.04 billion to $4.10 billion and contribute at least $60 million in incremental adjusted EBITDA by 2028.