AMSTERDAM -Just Eat Takeaway.com, Europe’s largest online restaurant food ordering service, said on Tuesday it has entered a “long-term global strategic partnership” with McDonald’s Corp. to expand delivery.
Financial details were not disclosed. The partnership will “support growth of the McDelivery business and will lead to increased operational benefits for Just Eat Takeaway.com,” Takeaway said in a statement.
The companies have had agreements in individual markets, but the new global agreement will reduce complexity and improve operational efficiency, Takeaway said.
McDonald’s, the world’s largest restaurant company, offers delivery at 33,000 restaurants in 100 countries through a variety of platforms, including Takeaway rival Uber Eats.
Takeaway shares have been in a sharp decline since late 2020, amid fears that COVID pandemic-driven growth would eventually slow, and following Takeaway’s 2021 acquisition of Grubhub for $7.3 billion. Shares are down 36% in 2022 and closed at 31.16 euros ($34.19) on Monday.
($1 = 0.9113 euros)
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(Reporting by Toby Sterling, Editing by Louise Heavens)