Just Eat Takeaway.com responds to statement from shareholder

Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY, NASDAQ: GRUB), hereinafter the “Company”, or together with its group companies “Just Eat Takeaway.com”, one of the world’s largest online food delivery groups, notes the statement published by Cat Rock Capital Management LP (“Cat Rock”) today.

The statement follows the Company’s capital markets event on 21 October 2021, during which the Company highlighted amongst other things:

·       Its ability to deliver sustainable growth and profits, in part through leveraging its hybrid model

·       How extending delivery is key to its strategy and is profitable at scale

·       Its market leadership and outstanding track record of execution, as recently demonstrated by its success in the UK

·       Its ability to enhance the experience for consumers and partners using technology and innovation; and

·       The expansion of its market through convenience grocery  

The Company also confirmed its financial guidance for 2021 and set out longer term targets.

Just Eat Takeaway.com completed the acquisition of Grubhub on 15 June 2021, only four months ago. The Company has explained that, while Grubhub has some specific challenges today, it is a large and growing business with good underlying profitability. The Company has a clear improvement plan to refocus Grubhub on key strongholds, expand new verticals and is excited by Grubhub’s potential.

Just Eat Takeaway.com agrees with Cat Rock that Grubhub has significant strategic value, which is why the Company believes that, over time, it will be a participant in the consolidation of the wider US market as various players combine to optimise last mile delivery. The Just Eat Takeaway.com management team expects to be involved in this consolidation when it comes and intends to do so from a position of strength that reflects the strategic value of Grubhub.

Just Eat Takeaway.com’s management regularly engages with its shareholders, including Cat Rock, and values input from all shareholders who support management’s aim of creating long-term value for the Company. Management believes that it has set out the right strategy for both Grubhub and the Company as a whole.

About Just Eat Takeaway.com

Just Eat Takeaway.com (LSE: JET, AMS: TKWY, NASDAQ: GRUB) is a leading global online food delivery marketplace outside China.

Headquartered in Amsterdam, the Company is focused on connecting consumers and restaurants through its platforms. With over 580,000 connected restaurants, Just Eat Takeaway.com offers consumers a wide variety of food choice. Just Eat Takeaway.com mainly collaborates with delivery restaurants. In addition, Just Eat Takeaway.com provides its proprietary restaurant delivery services for restaurants that do not deliver themselves.

The combination of Just Eat and Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in the United States, United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Spain and Switzerland, as well as through partnerships in Colombia and Brazil.

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