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Uber to acquire ezCater for $2.3 billion in cash to expand corporate catering

Uber has agreed to buy workplace catering platform ezCater in an all-cash transaction valued at $2.3 billion, expanding Uber Eats and Uber for Business into enterprise dining.

Green and dark green logo and wordmark of catering company ezCater on a bright green background.
Image: @StockSavvyShay

Uber has agreed to acquire Boston-based workplace catering platform ezCater in an all-cash transaction valued at $2.3 billion, according to a Bloomberg report relayed by Techmeme. The acquisition expands Uber Eats into corporate meal delivery and large-group office catering.[1][4][5]

ezCater operates a U.S. workplace meals and catering network partnering with more than 140,000 restaurants and generating over $2.5 billion in trailing 12-month gross bookings. The platform maintains average orders exceeding $400, is growing at a high-teens percentage rate year-over-year, and operates profitably on a non-GAAP operating income basis.[1][2][3][5]

Following the transaction's close, ezCater will be integrated into Uber Eats and Uber for Business to broaden the company's access to enterprise food budgets. Uber expects the acquisition to be margin accretive.[2][3]

Key facts

  • Uber agreed to acquire workplace catering platform ezCater in an all-cash deal valued at $2.3 billion.
  • ezCater is based in Boston and works with more than 140,000 restaurant partners.
  • ezCater handles more than $2.5 billion in annual and trailing 12-month gross bookings.
  • ezCater averages orders above $400 and has been expanding at a high-teens rate year over year.
  • ezCater is profitable on a non-GAAP operating income basis, and Uber expects the deal to be margin accretive.
  • After closing, ezCater will be integrated into both Uber Eats and Uber for Business.

Sources · 5 sources

  1. AG

    AGTP@AGTPinsightsPost on X ·

    BREAKING: Uber to acquire ezCater in an all-cash deal valued at $2.3 billion, bringing group catering to Uber Eats. ezCater has over 140,000 restaurants and $2.5B in trailing 12-month gross bookings. https://t.co/G1e2ryWqRK

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  2. SB

    Shay Boloor@StockSavvyShayPost on X ·

    $UBER is acquiring ezCater for $2.3B in cash adding 140,000 restaurant partners and more than $2.5B in annual gross bookings. Uber moving deeper into enterprise food spend where $400+ average orders and high teens growth give Eats a more profitable demand pool. https://t.co/uOZdTA0rLI

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  3. WS

    Wall St Engine@wallstenginePost on X ·

    $UBER TO ACQUIRE EZCATER FOR $2.3B IN CASH, EXPANDING UBER EATS INTO CATERING Uber is buying ezCater, a U.S. workplace meals and catering platform with 140,000+ restaurant partners and more than $2.5B in trailing 12-month gross bookings. ezCater is growing at a high-teens rate YoY, has average orders above $400, and is profitable on a non-GAAP operating income basis. Uber expects the deal to be margin accretive. After closing, ezCater will be integrated with Uber Eats and Uber for Business, giving Uber a larger presence in high-value group and enterprise food orders.

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  4. TE

    Techmeme@TechmemePost on X ·

    Uber agrees to acquire Boston-based catering platform ezCater in an all-cash deal valued at $2.3B to expand Uber Eats into corporate food delivery (@natlungfy / Bloomberg) (Visit Techmeme dot com for the link and full context!)

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  5. QU

    Quartz@qzPost on X ·

    Uber just bet $2.3B that your office lunch is its next big business Uber is acquiring workplace catering platform ezCater, merging its restaurant network and corporate client base with a B2B operation that moves over $2.5B in annual bookings. I #Uber #ezCater #WorkplaceCatering https://t.co/OOJfU50SmF

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