Grab buys foodpanda’s Taiwan business for US$600 million

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

Delivery Hero and Grab have entered into a share purchase agreement, which is expected to close by the second half of 2026, subject to regulatory approvals.

Delivery Hero will use the proceeds from the sale to pay down debt, among other purposes. In 2025, foodpanda 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, Grab will enter the Taiwan market, its ninth and first outside of South-east Asia. Grab will be in 21 cities across Taiwan following the acquisition.

“This is a natural next step for Grab, as our experience in South-east Asia is a direct fit for this market,” said Anthony Tan, CEO, Grab in a press release.

Delivery Hero is committed to continue foodpanda Taiwan operations, and has entered into an agreement with Grab to provide transition support services for foodpanda Taiwan following the closing of the deal.

Grab is targeting a completion of migration of users, merchants and drivers to its app by early 2027. This acquisition is expected to be accretive to the company’s 2026 revenue guidance range of US$4.04 billion to US$4.1 billion.