Acquisition of Sindelantal Mexico and increased stake in IF-JE Joint Venture
- Continues developing a leading presence in thriving Latin-American market
- Acquires Sindelantal Mexico, the clear market leader in online takeaway in Mexico
- Increases stake in IF-JE Joint Venture in Brazil to 30%
Just Eat plc, the world's leading online and mobile marketplace for takeaway food, is pleased to announce the acquisition of 100% of the share capital of Sindelantal Mexico, majority owned by Seaya Ventures.
The transaction marks Just Eat's entry into the growing Mexican online market for takeaway delivery, as it continues to strengthen its presence in Latin America.
Upon completion, the acquisition will create the leading market player in the country, Just Eat Mexico, with the addition of 2,500 restaurants to Just Eat's expanding marketplace for takeaway food, including Papa Johns and Chilis, generating over 60,000 orders per month.
Sindelantal's two founders, Diego Ballestero and Evaristo Babe, will stay with the business as country managers at Just Eat Mexico to oversee future business growth and development.
The transaction is the second time Just Eat has acquired a business from Sindelantal's founders and Seaya Ventures following the purchase of Sindelantal in Spain in 2012.
Just Eat is also pleased to announce the increase of its stake in IF-JE Participações Ltda., JUST EAT's Joint Venture with iFood in Brazil, to 30% from 25%. Led by an experienced team with unrivalled local knowledge, IF-JE is the clear leader in the Brazilian online delivery food market. This development underpins the continued success of the Joint Venture as Just Eat continues to consolidate its position in Latin America.
David Buttress, CEO of Just Eat, commented:
"This is an important day for Just Eat as we secure long term strategic leadership in Latin America. We are delighted to be entering the thriving Mexican market, which offers exciting growth opportunities and strengthens our international portfolio. An increased stake in IF-JE further supports our commitment to building on our strategy to develop market leading positions and offer more consumers the benefits of a great online takeaway experience with Just Eat."
About JUST EAT plc
JUST EAT plc operates the world's leading online market place for restaurant delivery. Headquartered in London, the Company is active in 13 countries around the globe. There are currently over 40,800 takeaway restaurants within the Just Eat network, which uses proprietary technology to offer a quick and efficient online ordering service for consumers and restaurant partners alike. Just Eat is a member of the FTSE 250. Its revenues in 2013 were £96.8 million and grew 58% in H1 2014, compared with the same period in 2013.
About Sindelantal Mexico
SinDelantal.mx is the leading platform for food delivery in Mexico. The company operates an extensive network of over 3,000 restaurants. With more than 60,000 orders every month, SinDelantal.mx has presence in Mexico's main cities. www.sindelantal.mx
About Seaya Ventures
Seaya is a Spanish venture fund founded in Madrid in 2013. The fund invests in early and growth stage internet and technology-enabled companies in Spain and Latin America. Seaya Ventures seeks to transform early and growth stage companies into category leaders, with a focus on innovative businesses that require growth or expansion capital and can build a lasting value. www.seayaventures.com