Southeast Asian tech giant Grab announced on Monday that it has reached an agreement to acquire Delivery Hero’s foodpanda business in Taiwan for $600 million in cash.
The deal, conducted on a cash-free and debt-free basis, marks Grab’s expansion into its ninth market and its first territory outside of Southeast Asia.
The transaction, which the tech firm’s leadership called as a “natural next step” for the company, is subject to regulatory approvals and is expected to close in the second half of 2026. Following the closing, Grab plans to complete a full platform migration of users, merchants, and drivers from foodpanda to the Grab app by early 2027.
The deal is also expected to contribute at least $60 million in incremental Adjusted EBITDA in 2028, according to Grab.
“Our longstanding expertise in managing complex delivery logistics for dense and high-traffic cities is well-suited for Taiwan’s bustling cities. Taiwan’s population of approximately 23 million also has a high demand for mobile-first services, similar to the Southeast Asian consumers who Grab serves every day. We see a significant opportunity to grow the food and groceries delivery scene here,” Grab CEO and Co-Founder Anthony Tan said, noting that Grab’s experience in Southeast Asia is a “direct fit” for this market.
The acquisition will give Grab a presence across 21 cities in Taiwan, generating approximately $1.8 billion in Gross Merchandise Value (GMV) and is profitable on an adjusted EBITDA basis in 2025.
For Berlin-based Delivery Hero, the divestment is characterised as a “key first step” in an ongoing strategic review. Niklas Östberg, CEO and Co-Founder of Delivery Hero, noted that the cash deal reflects the “strength and attractiveness” of the Taiwan business while allowing the company to streamline its global operations.
Delivery Hero has signed a Support Services Agreement to provide transition support to ensure continuity for the local community until the migration to Grab’s platform is finalised.
