📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Uber Tech(UBER.US) Uber to Acquire ezCater for $𝟮.𝟯 Billion, Expanding Catering on Uber Eats

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗨𝗯𝗲𝗿 agrees to acquire 𝗲𝘇𝗖𝗮𝘁𝗲𝗿 for $𝟮.𝟯 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 cash.

➤ ezCater provides workplace catering from over 𝟭𝟰𝟬,𝟬𝟬𝟬 restaurants nationwide.

➤ Acquisition combines 𝗲𝘇𝗖𝗮𝘁𝗲𝗿, 𝗨𝗯𝗲𝗿 𝗘𝗮𝘁𝘀, and 𝗨𝗯𝗲𝗿 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀.

➤ ezCater generated over $𝟮.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in trailing-twelve-month Gross Bookings.

➤ Gross Bookings are growing at a 𝗵𝗶𝗴𝗵-𝘁𝗲𝗲𝗻𝘀 year-over-year rate.

➤ ezCater's average order value exceeds $𝟰𝟬𝟬.

➤ ezCater is profitable on a 𝗡𝗼𝗻-𝗚𝗔𝗔𝗣 Operating Income basis.

➤ Uber expects the acquisition to be 𝗺𝗮𝗿𝗴𝗶𝗻 𝗮𝗰𝗰𝗿𝗲𝘁𝗶𝘃𝗲.

➤ Transaction is expected to close within the 𝗰𝗼𝗺𝗶𝗻𝗴 𝗺𝗼𝗻𝘁𝗵𝘀, pending approvals.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ Expands 𝗨𝗯𝗲𝗿 𝗘𝗮𝘁𝘀 deeper into higher-value corporate catering.

➤ Adds larger orders and new customer opportunities for participating restaurants.

➤ Strengthens Uber's position in the recurring 𝗕𝟮𝗕 workplace-meals market.

➤ Creates additional higher-value delivery opportunities for 𝗨𝗯𝗲𝗿 𝗘𝗮𝘁𝘀 couriers.

👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀:

𝗗𝗮𝗿𝗮 𝗞𝗵𝗼𝘀𝗿𝗼𝘄𝘀𝗵𝗮𝗵𝗶, CEO of Uber:

“Catering is a big business, and can be a huge revenue stream for restaurants,” said Dara Khosrowshahi, CEO of Uber. “Nihad and his incredible team have built an amazing platform. With Uber’s reach, we can bring that experience to millions more customers and help restaurants win more of these valuable orders.”

𝗡𝗶𝗵𝗮𝗱 𝗥𝗮𝗵𝗺𝗮𝗻, CEO of ezCater:

“We're thrilled to be joining forces with Uber. Our team is proud of what we've built — the leading platform for workplace catering, and a major growth channel for our restaurant partners,” said Nihad Rahman, CEO of ezCater. “We're energized to bring our catering and B2B expertise to Uber's global ecosystem of customers, merchants, and couriers.”