• Germany-based foodtech Delivery Hero has acquired the remaining 37 per cent stake in the Saudi Arabia-based food delivery company HungerStation for $297 million.
• Founded in 2012 by Ebrahim Al-Jassim and Hossein Bukhamseen, is a food delivery app that operates in Saudi Arabia and Bahrain. Rocket Internet's Foodpanda acquired a majority shareholding in HungerStation in August 2016 and the brand was eventually absorbed into Delivery Hero's portfolio after the latter acquired Foodpanda later that year.
• The partnership will allow Delivery Hero to build stronger ties between HungerStation and the rest of its ecosystem, including greater opportunities for mutual knowledge sharing and tech integration.

Press release:

Today, Delivery Hero SE (“Delivery Hero” or “the Company”) announced that it has purchased all outstanding minority shareholdings – a total of 37% – in HungerStation Holding Limited (“HungerStation”), the sole shareholder of HungerStation Company Ltd in the Kingdom of Saudi Arabia (“KSA”), which operates Delivery Hero’s Saudi business. 

The transaction came to a total of $297 million, which Delivery Hero considered a highly attractive purchase price. In FY 2022, HungerStation generated revenue growth of 36% to €609 million and achieved a positive EBIT, including group costs, of more than €50 million. 

HungerStation is the leading food delivery player in Saudi Arabia, connecting more than 10,000 partners with customers. Its strong position and reputation as a beloved local brand make it a valuable asset for Delivery Hero. Taking sole ownership will allow Delivery Hero to build stronger ties between HungerStation and the rest of its ecosystem, including greater opportunities for mutual knowledge sharing and tech integration.

Niklas Östberg, CEO and Co-Founder of Delivery Hero said: “We believe in the Kingdom of Saudi Arabia’s 2030 vision, ambition and potential, and are committed to contributing to its ongoing success through HungerStation. I look forward to continuing to build great products and delivering an amazing experience for our Saudi customers.”