Malaysia-based online food delivery concept Foodpanda has bought UAE’s online food delivery company 24h.ae to capture a bigger slice of the Middle East’s food delivery market.
Foodpanda allows customers to order from retailers such as 7 eleven, TGI Friday’s and A&W. It already operates in Saudi Arabia and Jordan through its hellofood brand, which has tied up with brands like Burger King, Pizza Hut and Roma Way. Additionally, it has also focused on expanding in Europe, acquiring companies in Hungary, Croatia, Serbia, Bosnia and Herzegovina and Montenegro. That’s not all; Foodpanda has also made acquisitions in seven Asian markets, currently having operations in 40 markets worldwide.
“After consolidating our Asian leadership, we are very excited to announce the acquisition of 24h.ae in what we believe is the next high growth region in the online food delivery business,” says Ralf Wenzel, co-founder and chief executive of Foodpanda.
Having partnered with brands such as Subway, Wendy’s and Johnny Rockets, 24h.ae offers its delivery services across the UAE.