• Acquisition will mark Grab’s expansion into its 9th market and first outside of Southeast Asia
• Grab reiterates 2026 Adjusted EBITDA guidance of $700 million to $720 million.
• Proposed transaction is expected to contribute at least $60 million in incremental Adjusted EBITDA in 2028
• Closing expected in second half of 2026

Singapore and Taipei, 23 March 2026 – Grab Holdings Limited, a leading super app in Southeast Asia, and Delivery Hero SE have reached an agreement for Grab to acquire Delivery Hero’s foodpanda delivery business in Taiwan in cash for $ 600 million, on a cash-free and debt-free basis, subject to customary closing adjustments. Closing of the acquisition is subject to regulatory approvals and customary closing conditions, and is expected to take place in the second half of 2026.

Anthony Tan, group CEO and co-founder, Grab, said, “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,” Tan added.

After the acquisition, Grab will have a presence across 21 cities in Taiwan. This deal combines Grab’s AI-enabled products and deep operational expertise with foodpanda’s extensive coverage across Taiwan. The foodpanda business generated approximately $ 1.8 billion in Gross Merchandise Value (GMV) and is profitable on an adjusted EBITDA basis (before the allocation of Delivery Hero’s group costs) in 2025.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said, “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.”

Grab will support Taiwan’s digital economy, food culture and communities

Grab is committed to being a responsible, long-term partner in Taiwan’s economic growth. Grab’s ecosystem generated $ 18.8 billion in annual economic value to the Southeast Asia economies, equivalent to 0.5% of the region’s combined GDP. Grab aims to similarly contribute to Taiwan’s economy by providing flexible earning opportunities for millions of people and small businesses, in line with local regulations.

Grab will bring its AI product suite to Taiwan, leveraging the same technology that currently serves over 50 million monthly transacting users across more than 900 cities. This includes GrabMaps, Grab’s proprietary hyperlocal mapping technology, that uses real-time route planning and predictive food preparation times to make every delivery more reliable and efficient.

For consumers, Grab aims to bring a smarter way to eat in Taiwan, using AI to offer more personalised restaurant recommendations and a wider selection of cuisines.

For merchants, Grab will provide digital tools and data insights to help them reach a wider customer base. This includes access to an AI Merchant Assistant, real-time sales analytics, and marketing manager tools.

For delivery-partners, Grab will offer a safe and flexible way to earn an income, with insurance coverage, in-app safety features, and tools that help them maximise their earnings.

Grab will also support Taiwan’s tourism by introducing Taiwan’s vibrant food culture to Grab’s international audience of over 50 million monthly transacting users. The Grab app will provide international travellers with a seamless way to discover local cuisine and help Taiwanese businesses tap into a wider market.

Transition and continuity

Grab and foodpanda are committed to maintaining a high level of service for all stakeholders throughout this process. Until the deal closes, Delivery Hero is fully committed to continue operating foodpanda Taiwan as usual. The parties have entered into a Support Services Agreement under which Delivery Hero will provide transition support services to foodpanda Taiwan in the period following Closing, to ensure that the local community remains well-supported as they move to the Grab platform.

Grab is targeting completion of the full platform migration of users, merchant-partners and driver-partners from foodpanda to the Grab app by early 2027.

Subject to the closing timeline, the transaction will be accretive to Grab’s 2026 Group Revenue guidance of $4.04 billion to $4.10 billion. Grab also reiterates its 2026 Adjusted EBITDA guidance of $700 million to $720 million.

The proposed transaction is expected to be accretive to Grab’s previously announced 3-year Adjusted EBITDA outlook of $1.5 billion by 2028, and contribute at least $60 million in incremental Adjusted EBITDA in 2028.

Re-disseminated by The Asian Banker