JUST EAT Beefs Up Presence in Latin America
The company bought 100% stake in a Mexican firm and increased joint venture stake in Brazil.
Just Eat plc (JUST EAT) announced that it has acquired Sindelantal Mexico and increased its stake in the IF-JE Joint Venture in Brazil.
As the global leader in online takeaway ordering service, JUST EAT’s acquisition of 100% of the share capital of Sindelantal Mexico marks its entry into the growing Mexican online market for takeaway delivery as it continues to strengthen its presence in Latin America.
Upon completion, the acquisition will create the leading market player in the country, JUST EAT Mexico, with the addition of 3,000 restaurants to JUST EAT’s expanding marketplace for takeaway food, including Papa Johns and Chilis, generating over 60,000 orders per month.
JUST EAT also reported the increase of its stake in IF-JE Participações Ltda. (IF-JE), its joint venture with iFood in Brazil, to 30% from 25%.
David Buttress, CEO of JUST EAT, commented: “We are delighted to be entering the thriving Mexican market, which offers exciting growth opportunities and strengthens our international portfolio. An increased stake in IF-JE further supports our commitment to building on our strategy to develop market leading positions and offer more consumers the benefits of a great online takeaway experience with JUST EAT.”