DoorDash to acquire Deliveroo in £2.9bn deal

US-based food delivery giant DoorDash has announced it will acquire delivery platform Deliveroo in a cash deal worth approximately £2.9bn.

Both companies' boards have agreed to the deal, which will be carried out via a court-sanctioned scheme.

Shareholders in Deliveroo will receive 180 pence in cash per share.

This offer represents a 44% premium on Deliveroo’s share price as of 4 April 2025, the day before DoorDash made its offer. It’s also 29% above the closing price just before the formal offer period began, and 40% above the company’s three-month average share price leading up to that point.

The deal implies an enterprise value of around £2.4 billion for Deliveroo and values the business at approximately 13.4 times its projected 2025 EBITDA, based on Deliveroo’s guidance of £170–190m.

DoorDash has stated that this is its final offer, unless another bidder emerges with a competing proposal. If that happens, DoorDash reserves the right to revise its terms, pending approval from the takeover panel.

The acquisition marks a major move in the consolidation of the global food delivery market, merging two significant players.

Speaking on the acquisition

Commenting on the acquisition, Tony Xu, CEO and co-founder of DoorDash, says: "I could not be more excited by the prospect of what DoorDash and Deliveroo will be able to accomplish together. We’ll cover more than 40 countries with a combined population of more than 1 billion people, enabling us to provide more local businesses with the tools and technology they need to thrive.

"Deliveroo is a team that I have long admired. Like DoorDash, Deliveroo is obsessively focused on their customers – consumers, merchants, and riders. They work day in and day out to improve their consumer value proposition, bring new services to local businesses, and offer flexibility and support to riders."

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