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Key Moments

  • Uber agreed to acquire US catering platform ezCater in an all-cash transaction valued at $2.3 billion.
  • ezCater generated more than $2.5 billion in gross bookings over the last 12 months, with average order values above $400.
  • The transaction is expected to close in the coming months, subject to regulatory approval, and Uber anticipates a margin uplift from the deal.

Strategic Expansion in Food Delivery and Workplace Meals

Uber said on Tuesday it plans to acquire US-based catering platform ezCater in an all-cash deal worth $2.3 billion, a move designed to strengthen its position in food delivery and corporate meal services.

Founded in 2007, ezCater enables businesses to order food from catering providers for corporate events, meetings, and everyday workplace dining needs.

Combining Platforms Across Consumer and Corporate Channels

According to Uber, the transaction will integrate ezCater’s catering-focused operations with the Uber Eats restaurant network and the Uber for Business corporate client base. The company said this combination is intended to broaden its reach across both traditional restaurant delivery and larger-ticket workplace catering orders.

Uber has been building out its delivery segment globally and previously agreed in July to acquire Delivery Hero in a $14.8 billion deal aimed at creating what it described as the largest food delivery group outside China.

Catering Economics and Restaurant Opportunity

Uber CEO Dara Khosrowshahi highlighted the importance of the catering segment, saying, “Catering is a big business, and can be a huge revenue stream for restaurants.”

Uber reported that ezCater generated more than $2.5 billion in gross bookings over the last 12 months. The company added that ezCater’s average order values exceed $400 and said it expects the acquisition to enhance its margins.

Key Transaction Metrics

ItemDetail
BuyerUber
TargetezCater (US catering platform)
Deal Value$2.3 billion (all-cash)
ezCater Gross Bookings (last 12 months)More than $2.5 billion
Average Order ValueExceeds $400
Related Uber deal referencedDelivery Hero acquisition agreed in July for $14.8 billion
Expected ImpactUber expects the deal to boost margins
Closing ConditionsSubject to regulatory approval
Expected TimingIn the coming months

Regulatory Path and Closing Timeline

Uber said the ezCater acquisition remains subject to regulatory review. The company expects the deal to be completed in the coming months, assuming necessary approvals are obtained.

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