Rocket Internet acquires a 30 % stake in Delivery Hero, the Berlin-based global leader of online and mobile food ordering – known in Germany under the brands Lieferheld and pizza.de. In addition to the issuance of new shares Rocket Internet acquired shares from Delivery Hero’s stakeholders. The total transaction volume amounts to EUR 496 million.
Delivery Hero through its platform offers access to 90,000 restaurants in 24 countries. Every month more than 12 million meals are delivered by them.
Delivery Hero’s shareholders include Team Europe, Kite, Phenomen, Tengelmann Ventures as well as Insight Ventures and Luxor Capital.
GLNS acted as the leading legal advisor of Delivery Hero on the transaction. The GLNS team included Venture Capital/Private Equity/M&A partners Ludger Schult and Matthias Mittermeier as well as partner Tobias Nikoleyczik (M&A/Capital Markets). In addition, Markus Bauman (King & Spalding) advised on US-Capital Markets aspects. On Delivery Hero’s side General Counsel Oliver Hüfner led the transaction.
Rocket Internet was advised by a Berlin based team of Noerr (Sascha Leske, Hilmar Hamm). Delivery Hero’s shareholder Insight Ventures was represented by Willkie Farr Gallagher (Stefan Jörgens, Axel Wahl, Jan Muñoz). Latham & Watkins (Gregor Klenk, Rudolf Haas) acted for Luxor Capital.