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Ringier Axel Springer Media signs agreement with Just Eat Takeaway.com for the sale of Bistro.sk
Bistro.sk started operations in 2013. It quickly became a leading online food delivery service in Slovakia(3) . In seven years, the number of restaurants grew to almost 2,000, serving more than 400,000 active customers and performing millions of orders a year.
Jörg Gerbig, COO of Just Eat Takeaway.com, commented: “With the acquisition of Bistro.sk we are adding a profitable and highly complementary online food delivery platform to our geographical footprint. The business has strong foundations we can build on: a number one position in online food delivery 1 , market leading top-of-mind brand awareness and attractive consumer cohorts. We look forward to growing the business.”
Bistro.sk will adopt the Just Eat Takeaway.com global brand identity and migrate to the Just Eat Takeaway.com’s European IT platform.
Mark Dekan, CEO Ringier Axel Springer Media: “With Bistro.sk we introduced a new business model to the Slovakian market, building organically, with entrepreneur spirit, a strong online food delivery service from scratch, which grew from a few daily orders to millions a year. Today the time has come to prepare Bistro.sk for further growth. We are happy that with Just Eat Takeaway.com we have found a partner who will contribute international know-how in food delivery to grow the brand. The transaction is in line with our growth and investment strategy on the Slovak market, where we want to focus on three strong pillars of content, classifieds and community business.”
The transaction will enable Ringier Axel Springer Media to focus on its strategy based on online publishing, classifieds and community business in Slovakia. The portfolio includes leading journalistic digital brands such as Aktuality.sk, Diva.sk, Šport.sk and Živé.sk, top real estate classifieds portals Nehnuteľnosti.sk and TopReality.sk, top car classifieds portals Autobazar.eu and Autobazar.sk and also other major products such as Azet.sk, the online community portal Pokec.
Milan Dubec, shareholder of Ringier Axel Springer SK and Founder of Bistro.sk: "When I bought the first printer designed for orders in restaurants 7 years ago, I had no idea what success story we would write. Today, Bistro.sk is leader in food delivery services in Slovakia. My thanks go to all the people who stood by during this period of building this company, to our partner restaurants and, of course, our customers. I am convinced that, thanks to a strategic investor, Bistro.sk will be further developed, which will even more increase the quality of services and satisfaction level of customers and restaurants."
The enterprise value for the transaction is approximately €50 million, with the transaction expected to close later in 2021.
Ringier AG, Corporate Communications
(1) Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY, Nasdaq: GRUB), hereafter or together with its group companies, “Just Eat Takeaway.com”
(2) Based on SimilarWeb site analysis data
(3) Based on search interest and website analysis data
Just Eat Takeaway.com
Ringier Axel Springer SK
About Just Eat Takeaway
Just Eat Takeaway.com (LSE: JET, AMS: TKWY, NASDAQ: GRUB) is a leading global online food delivery marketplace. Headquartered in Amsterdam, the Company is focused on connecting consumers and restaurants through its platforms, offering consumers a wide variety of food choice. Just Eat Takeaway.com mainly collaborates with delivery restaurants, but also provides its proprietary restaurant delivery services for restaurants that do not deliver themselves. The Company 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, Spain and Switzerland, as well as through partnerships in Colombia and Brazil.
Ringier Axel Springer SK, a.s.
Ringier Axel Springer SK is a multimedia tech company and number one of Slovak Internet. Its portfolio includes the most readed news portal Aktuality.sk, Women's magazine Diva.sk, Sport magazine Šport.sk, Mother’s magazine Najmama.sk, Technology portal Živé.sk and European Urban Hub Noizz.sk. Other major products such as Azet.sk, Bistro.sk food delivery service and the Pokec community portal are also part of the publishing house. Through its subsidiary company United Classifieds it operates classifieds portals such as Autobazar.eu, Autobazár.sk, Real.sk.sk or TopReality.sk, thanks to which is the largest operator of online classifieds portals in Slovakia.
About Ringier Axel Springer Media AG
The Swiss Ringier AG and the German Axel Springer SE founded Ringier Axel Springer Media AG in 2010. The company operates in the growth markets of Poland, Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania with a broad range of media, comprising digital and print offerings. Today Ringier Axel Springer Media AG is the leading integrated multimedia corporation in Central and Eastern Europe. The company's registered offices are in Zurich and it employs a total of about 3.100 employees.