Grab acquires foodpanda Taiwan for US$600M, marking first expansion beyond SEA

Grab will be in a total of 21 cities across Taiwan following the acquisition Grab is buying foodpanda’s Taiwan business for US$600 million (S$770 million) in cash, said foodpanda parent company Delivery Hero in a press release on Monday (Mar 23). Delivery Hero and Grab have signed a share purchase agreement, expected to close in […]

Mar 23, 2026 0 0

Grab acquires foodpanda Taiwan for US$600M, marking first expansion beyond SEA

Grab will be in a total of 21 cities across Taiwan following the acquisition

Grab is buying foodpanda’s Taiwan business for US$600 million (S$770 million) in cash, said foodpanda parent company Delivery Hero in a press release on Monday (Mar 23).

Delivery Hero and Grab have signed a share purchase agreement, expected to close in the second half of 2026, pending regulatory approvals.

This follows two recent market shifts: Uber scrapping its US$950 million (S$1.22 billion) bid for foodpanda’s Taiwan business in Mar 2025, and Deliveroo leaving Singapore last month.

Delivery Hero intends to use the net proceeds from the transaction to repay debt and for other general corporate purposes to further strengthen its capital structure.

In 2025, foodpanda operations in Taiwan generated a gross merchandise value of 1.5 billion euros (S$2.2 billion) and positive adjusted earnings before interest, taxes, depreciation and amortisation.

“This divestment is a key first step in our ongoing strategic review and underlines our commitment to a more focused global footprint,” said Niklas Ostberg, CEO and co-founder of Delivery Hero.

With this acquisition, it will mark Grab’s expansion into Taiwan, its 9th market, and first outside of Southeast Asia. Grab will be in a total of 21 cities across Taiwan following the acquisition.

“This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market. We see a significant opportunity to grow the food and groceries delivery scene here,” said Grab CEO Anthony Tan.

Grab is targeting completion of the full platform migration of users, merchants and drivers from foodpanda to the Grab app by early 2027.

Delivery Hero will continue foodpanda Taiwan’s operations and has agreed to provide Grab with transition support services for foodpanda Taiwan after the deal closes.

The acquisition is expected to boost Grab’s 2026 revenue guidance of US$4.04 billion (S$5.18 billion) to US$4.1 billion (S$5.26 billion).