A Pandemic Darling Is Sold for a Song

The "disastrous US journey" for Europe's biggest meal delivery firm has come to an end. Just Eat Takeaway on Wednesday announced it would sell Grubhub, the Chicago-based unit it acquired during the pandemic-related delivery boom in 2020, to Wonder for $650 million. The Netherlands-based Just Eat Takeaway bought Grubhub for $7.3 billion in June 2020. More:

• The timeline: CNN reports Just Eat Takeaway has wanted to rid itself of Grubhub since 2022, but that the effort "was hampered by slowing growth, high taxes, and a question of fee caps in New York City." Those fee caps involve how much money Grubhub and rivals like DoorDash and Uber Eats can charge restaurants for delivering meals.

• The buyer: The Guardian describes Wonder as a "New York-based chain of fast casual restaurants" helmed by former Walmart exec Marc Lore. Wonder currently has a couple dozen restaurants, with plans to get to 100 by the end of 2025, reports the Wall Street Journal; it also owns Blue Apron.
• The original hopes: The Guardian reports that Just Eat's Grubhub purchase "was intended to create the world's largest food delivery service outside China," giving the company access to hungry customers in 25 countries.

(More Grubhub stories.)