CHICAGO, Oct. 10, 2017 /PRNewswire/ -- Grubhub Inc.
(NYSE: GRUB), the nation's largest food ordering company, today
closed its previously announced acquisition of Eat24.
With approximately 75,000 great local restaurants available
online or on the app, Grubhub has the most complete restaurant
network for online pickup and delivery ordering in the United States. In conjunction with the
acquisition, Grubhub and Yelp have also commenced a long-term
partnership agreement, which will bring online ordering for all
Grubhub restaurant partners to the Yelp local goods and services
platform.
"Grubhub creates unmatched value for our restaurant partners and
the best possible experience for diners," said Matt Maloney, Grubhub CEO. "Eat24's loyal diner
base and extensive restaurant selection will satisfy more diners
while driving more orders to restaurants and our drivers. We
couldn't be more excited about the Eat24 acquisition and Yelp
partnership."
With the close of the Eat24 deal, Grubhub has completed all
three of the acquisitions discussed on its second quarter earnings
call, including Foodler and OrderUp. In connection with these
acquisitions, Grubhub has refinanced its existing credit facility
with a new five-year, $350 million
committed facility, consisting of a $125
million term loan and an expanded $225 million revolving credit facility.
Grubhub will discuss the financial and operational impacts of
these transactions on its upcoming third quarter earnings
call.
About Grubhub
Grubhub (NYSE: GRUB) is the nation's
leading online and mobile takeout food-ordering marketplace with
the most comprehensive network of restaurant partners and largest
active diner base. Dedicated to moving eating forward and
connecting diners with the food they love from their favorite local
restaurants, the Company's platforms and services strive to elevate
food ordering through innovative restaurant technology, easy-to-use
platforms and an improved delivery experience. Grubhub is proud to
work with approximately 75,000 restaurant partners in over 1,200
U.S. cities and London. The
Grubhub portfolio of brands includes Grubhub, Seamless, Eat24,
Foodler, AllMenus and MenuPages.
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SOURCE Grubhub Inc.