Grab has agreed to acquire Delivery Hero’s Foodpanda delivery business in Taiwan for US$600M in cash, marking the Singapore-based super app’s first expansion beyond Southeast Asia.
The deal, on a cash-free, debt-free basis and subject to regulatory approvals, is expected to close in the second half of this year.
The acquisition will integrate Foodpanda Taiwan into Grab’s delivery ecosystem, where the company plans to deploy its AI-powered logistics, mapping and personalisation tools to enhance service for consumers, merchants and delivery partners.
“This acquisition will mark Grab’s expansion into Taiwan, our ninth market and first outside of Southeast Asia,” said Anthony Tan, Group CEO and Co-Founder of Grab. “This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market. Our longstanding expertise in managing complex delivery logistics for dense and high-traffic cities is well-suited for Taiwan’s bustling cities.”
