Menulog set to sell to overseas buyers
Australian home food delivery service Menulog is set to be sold, with overseas buyers expected to pay up to $500 million for the business.
Menulog is the top online service for ordering delivery and takeaway food from more than 5,000 restaurants around Australia. More than 500,000 consumers use the service each month. In February 2015, Menulog merged with its former Australian rival EatNow. Industry commentators suggested the merger was an attempt to pre-empt the arrival in the Australian market of global operators of similar services.
Platforms such as Menulog typically take a commission on orders processed through their service.
It has been reported that bids for Menulog are expected to come from global operators such as German-owned Delivery Hero and UK-owned Just Eat. Fairfax Media reported it is believed Menulog’s owners have not ruled out an initial public offering, but a trade sale is the more likely route.