German “Delivery Hero” acquires “Hungerstation” for $ 297 ‎million

The German “Delivery Hero” for online food delivery services announced today, Friday, its acquisition of the “Hungerstation” delivery services company, which is based in Saudi Arabia.

The group listed in the German “MDAX” stock index for medium-sized companies acquired the remaining 37% of the shares, for about $ 297 million, according to the Berlin-based company.

“Delivery Hero” also manages the well-known “Talabat” brand in the Middle East and North Africa region

And “Delivery Hero” said in its press release that “Hungerstation” increased its sales volume by more than a third, to reach 678 million dollars last year, explaining that more than 50 million euros of this amount constituted profits before calculating interest and taxes.

Niklas Ostberg, CEO and co-founder of Delivery Hero, said in a statement: “We believe in Saudi Arabia’s 2030 vision, ambition and potential, and we are committed to contributing to its continued success through HungerStation.”