Acquisition｜Grab Spends $4.7 Billion to Acquire foodpanda Taiwan Operations

SighingCashier · 2026-03-23T12:54:14+00:00

Southeast Asian ride-hailing app Grab is acquiring Taiwan's food delivery business of Delivery Hero's foodpanda for $600 million, with completion expected in the second half of the year pending approval. This deal will boost Grab's EBITDA forecast, making Taiwan its ninth market. Last year, foodpanda's total transaction volume in Taiwan reached $1.8 billion. The funds from this transaction will be used for debt repayment and other purposes.

SighingCashier

2026-03-23 12:54:14

Abstract generation in progress

Southeast Asia ride-hailing app Grab announced it will acquire Delivery Hero’s foodpanda Taiwan delivery business for $600 million (approximately HKD 4.68 billion), expected to be completed in the second half of this year. However, the deal still requires approval from relevant authorities.

Will Boost Adjusted EBITDA

Grab stated that this transaction is expected to enhance its previously announced three-year adjusted EBITDA target, adding at least $60 million in additional adjusted EBITDA by 2028. The company reaffirmed its forecast for this year’s adjusted EBITDA to be between $700 million and $720 million.

Last Year’s Gross Merchandise Value About $1.8 Billion

CEO and co-founder Anthony Tan said this marks Grab’s first expansion beyond Southeast Asia since its founding, with Taiwan becoming its ninth market. Taiwan has a population of about 23 million, with strong demand for mobile-first services, and significant growth opportunities in the food and fresh delivery markets. Foodpanda Taiwan’s gross merchandise value (GMV) last year was approximately $1.8 billion, and it achieved profitability on an adjusted EBITDA basis.

Niklas Östberg, CEO and co-founder of Delivery Hero, said the proceeds from the sale will be used to pay down debt and for general corporate purposes.

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