Malaysia’s Foodpanda buys UAE online food delivery company
Dubai: Foodpanda, a Malaysia-based online food delivery business, has bought UAE online food delivery company 24h.ae in a bid to capture a bigger slice of the Middle East’s food delivery market, according to a statement on Wednesday.
“After consolidating our Asian leadership, we are very excited to announce the acquisition of 24h.ae in what we believe is the next high growth region in the online food delivery business,” said Ralf Wenzel, co-founder and chief executive of Foodpanda, in a statement.
Foodpanda allows customers to order from retailers like 7 eleven, TGI Friday’s and A&W. It did not disclose a figure for the acquisition of 24h.ae.
Foodpanda already operates in Saudi Arabia and Jordan through its hellofood brand, which has tied up with brands like Burger King, Pizza Hut and Roma Way.
The company has focused on expanding in Europe, acquiring companies in Hungary, Croatia, Serbia, Bosnia and Herzegovina, and Montenegro. It has also made acquisitions in seven Asian markets.
The food delivery firm has operations in 40 markets worldwide.
24h.ae, which has partnered with brands like Subway, Wendy’s and Johnny Rockets, offers its delivery services in all of the seven emirates.
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