Foodpanda buys UAE's 24h.ae
Food delivery company continues expansion into Middle East with new acquisition
Online food delivery company foodpanda has acquired 24h.ae, a UAE-based food delivery service.
24h.ae, founded in 2011, provides an online service where customers can order from more than 700 restaurant partners, including major brands like Subway, Wendy's , Domino's, Johnny Rockets, and Pizza Express.
The acquisition is part of foodpanda's expandsion in the Middle East. The company is already active in Saudi Arabia and Jordan with its hellofood.sa and hellofood.jo brands, respectively.
Ralf Wenzel, Co-Founder and CEO of foodpanda group said: "After consolidating our Asian leadership, we are very excited to announce the acquisition of 24h.ae in what we believe is the next high growth region in the online food delivery business. Through 24h in the United Arab Emirates, combined with our existing hellofood business in Saudi Arabia and Jordan, we want to offer the best food ordering experience to our customers in the Middle East."
Ali Orlov, Founder and CEO of 24h added: "We are very proud to partner with foodpanda and are confident that with their experience and knowledge from all over the globe, we will bring our product and service to the next level."
The foodpanda group recently announced a series of acquisitions in Europe, taking over companies in Hungary, Croatia, Serbia, Bosnia & Herzegovina, and Montenegro. Last Friday, foodpanda acquired competitors in 7 Southeast Asian and Asian markets, consolidating ist leadership position in the region. Now, the group is active in 40 markets in Asia, Europe, Middle East, Africa and Latin America.