Taiwan – Grab Holdings has agreed to acquire the Taiwan delivery business of foodpanda from Delivery Hero for $600 million in cash, subject to regulatory approvals and customary closing conditions.
The transaction is expected to close in the second half of 2026. Once completed, Grab will expand into Taiwan, marking its first market outside Southeast Asia and giving it a presence in 21 cities across the island. The deal combines Grab’s operational expertise and AI-enabled delivery products with foodpanda’s established network and coverage in Taiwan.
Foodpanda’s Taiwan operations generated approximately US$1.8 billion in gross merchandise value (GMV) in 2025 and posted positive adjusted EBITDA before the allocation of Delivery Hero’s group costs.
Grab said the acquisition is expected to contribute to its 2026 revenue guidance of $4.04–4.10 billion and adjusted EBITDA guidance of $700–720 million while also supporting its longer-term three-year EBITDA outlook through 2028.
During the transition, Delivery Hero will continue operating the Taiwan business as usual. Under a support services agreement, the company will provide transition assistance after closing to ensure continuity for customers, merchants, and delivery partners. Grab aims to complete the full migration of foodpanda’s platform users to its app by early 2027.
Grab also plans to leverage its AI and mapping technologies, currently used by over 50 million monthly transacting users across Southeast Asia, to enhance delivery efficiency and offer data-driven tools to merchants and delivery partners in Taiwan. These include real-time sales analytics, marketing tools, and in-app safety features for drivers.
Anthony Tan, group CEO and co-founder at Grab, said, “This acquisition will mark Grab’s expansion into Taiwan, our 9th market and first outside of Southeast Asia. This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market. Our longstanding expertise in managing complex delivery logistics for dense and high-traffic cities is well-suited for Taiwan’s bustling cities. Taiwan’s population of approximately 23 million also has a high demand for mobile-first services, similar to the Southeast Asian consumers who Grab serves every day. We see a significant opportunity to grow the food and groceries delivery scene here.”
“Sharing a deep Asian heritage, we value the same traditions that define Taiwan’s rich food culture. This local understanding is why we’ve served our consumers and partners better than anyone else, in every market we’ve entered over the last eight years. For us, success starts with the community – we will be on the ground to listen first-hand to user needs. We are here to be a long-term partner to Taiwan and look forward to providing our AI-enabled products to help local merchants and delivery partners grow with the digital AI economy,” Tan added.
Meanwhile, Delivery Hero said it intends to use the proceeds from the sale to repay debt and for general corporate purposes, strengthening its capital structure. The divestment is part of Delivery Hero’s broader strategic review aimed at optimising capital allocation and unlocking shareholder value.
Niklas Östberg, CEO and co-founder of Delivery Hero, said, “The foodpanda team in Taiwan has built a fantastic business, and we thank them for their hard work. A transaction like this is a significant undertaking, but we are delighted to have agreed this cash deal, which reflects strength and attractiveness of the business in Taiwan. This divestment is a key first step in our ongoing strategic review.”
Both companies are expected to hold a conference call with investors to discuss the transaction further, providing updates on regulatory approvals and operational plans for the transition period.
The deal comes after a similar acquisition attempt in 2024, when Uber Eats sought to buy foodpanda Taiwan. That merger was blocked by Taiwan’s Fair Trade Commission, which cited concerns that it would reduce competition, potentially increasing costs for both consumers and restaurants.
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