Grab Holdings has announced it will acquire Delivery Hero’s Taiwan delivery business, including its Foodpanda operations, for $600 million in cash, marking a major step in its global expansion strategy.
The transaction represents Grab’s first move outside Southeast Asia and will expand its footprint into Taiwan, its ninth market. The deal is expected to close in the second half of 2026, subject to regulatory approvals and customary conditions.
Through the acquisition, Grab will gain access to operations spanning 21 cities across Taiwan. The Foodpanda Taiwan business generated approximately $1.8 billion in gross merchandise value in 2025 and is already profitable on an adjusted EBITDA basis, excluding group cost allocations.
Grab expects the deal to be financially accretive, projecting at least $60 million in incremental adjusted EBITDA by 2028. The company also reiterated its broader 2026 adjusted EBITDA guidance of $700 million to $720 million.
Strategically, the acquisition enables Grab to leverage its experience operating in dense, high-traffic Southeast Asian cities and apply its AI-driven logistics and delivery capabilities to Taiwan’s urban markets. The company plans to introduce its AI-powered ecosystem, including mapping, merchant tools, and personalized recommendations, to enhance efficiency and user experience.
Grab also highlighted its intention to support Taiwan’s digital economy by providing tools for merchants, flexible earning opportunities for delivery partners, and improved services for consumers. The company aims to complete the migration of users, merchants, and delivery partners from Foodpanda to the Grab platform by early 2027.
For Delivery Hero, the divestment is part of an ongoing strategic review aimed at strengthening its capital structure and optimizing its global portfolio.
The two companies have also entered into a transition services agreement to ensure continuity of operations during the integration period, with Delivery Hero continuing to support the Taiwan business until the deal is completed.
KEY QUOTES:
“This acquisition will mark Grab’s expansion into Taiwan, our 9th market and first outside of Southeast Asia. This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market. Our longstanding expertise in managing complex delivery logistics for dense and high-traffic cities is well-suited for Taiwan’s bustling cities. Taiwan’s population of approximately 23 million also has a high demand for mobile-first services, similar to the Southeast Asian consumers who Grab serves every day. We see a significant opportunity to grow the food and groceries delivery scene here. Sharing a deep Asian heritage, we value the same traditions that define Taiwan’s rich food culture. This local understanding is why we’ve served our consumers and partners better than anyone else, in every market we’ve entered over the last eight years. For us, success starts with the community – we will be on the ground to listen first-hand to user needs. We are here to be a long-term partner to Taiwan, and look forward to providing our AI-enabled products to help local merchants and delivery-partners grow with the digital AI economy.”
Anthony Tan, Co-Founder and Group CEO, Grab
“The foodpanda team in Taiwan has built a fantastic business and we thank them for their hard work. A transaction like this is a significant undertaking, but we are delighted to have agreed this cash deal, which reflects strength and attractiveness of the business in Taiwan. This divestment is a key first step in our ongoing strategic review.”
Niklas Östberg, Co-Founder and CEO, Delivery Hero
