JUST-EAT DIVESTS MINORITY STAKE IN ‘ONLINE PIZZA’By Matthew, April 2, 2012 8:10 am
London, UK, 2nd April 2012: Just-Eat has sold its minority stake in Online Pizza, a Swedish online takeaway company. The funds from the sale of the shares, which amounted to 18.5 per cent of Online Pizza, will be reinvested in the 13 markets Just-Eat currently operates.
Klaus Nyengaard, CEO of Just-Eat, said “Online takeaway is booming as local restaurants embrace e-commerce. Our investment in Online Pizza has yielded a very attractive return, giving us additional cash that will be put towards the continued development of the business in key markets and cementing our position as the global leader.”
In January Just-Eat announced a joint venture in France with Alloresto. The partnership was part of a period of intense expansion, which saw the company make seven acquisitions in 2011, in the UK, Italy, Switzerland, Brazil, Canada and India. This rapid growth was supported by a $48 million round of VC funding in March 2011.