Following Foodpanda-and-24h.ae acquisition, German e-commerce group Rocket International is set to buy Kuwait-based food delivery service Talabat for approximately $169.6 million to create the biggest delivery network outside China.
Rocket recently increased its stakes in grocery service HelloFresh and Delivery Hero and announced the formation of its new Global Online Takeaway Group.
Rocket considers the Middle East as one of the most attractive markets with significant growth potential and attractive EBITDA margins. And by adding Talabat, operating in Kuwait, Saudi Arabia and the UAE, Rocket will be able to expand its reach to restaurants such as Burger King, KFC and Pizza Hut.
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