Just Eat have expressed plans to buy Australian online takeaway market Menulog. The sale would be financed by the issue of new equity in a deal that would be worth about €601 million. Menulog is currently Australia and New Zealand’s leading online takeaway marketplace.
The company has a selection of over 5,500 restaurants and 1.4 million active users. In the 12 months up until March 2015 it had 6.3 million orders and revenues of £13.5 million. Menulog continue to grow at an exponential rate with Jan – March orders up by 96% year on year.
CEO of menulog is Dan Katz. He said of the proposed venture “I am very excited about the prospect of Menulog becoming part of Just Eat, which has been a real inspiration for us as we have grown in the Australian and New Zealand markets.This proposed acquisition will allow Menulog to benefit from Just Eat’s experience and know-how, particularly in digital marketing, and enhance our customer service model to drive further growth and efficiencies across the business.”