Grubhub Acquired by Wonder
Founded by entrepreneur Marc Lore, New York-based Wonder is pioneering a new category of "Fast Fine" dining. Leveraging its proprietary technology, Wonder differentiates itself from other restaurant or food delivery concepts by offering high-quality food, with order-to-delivery times below 30 minutes. Multi-restaurant ordering allows customers to order from upwards of 30 restaurants in a single order, with each item being made to order in a sequenced fashion so that they finish simultaneously and can be delivered to the customer together.
The platform features exclusive offerings from renowned chefs – including Bobby Flay, Marcus Samuelsson and José Andrés – and the country's best-known restaurants, such as Maydan, Tejas Barbecue, Di Fara Pizza, and Fred's Meat and Bread.
Earlier in the year, Wonder partnered with Walmart to bring its delivery-first concept to several of the mass retailer's stores. The partnership kicked off with the opening of a Wonder inside a Walmart store in Quakertown, Pa., on Feb. 21. Wonder currently has 28 locations in the northeastern United States, with seven additional locations slated to open by the end of 2024.
In October, Amazon Grocery SVP Tony Hoggett departed the e-comm giant to join Wonder as COO.
Meanwhile, Grubhub has connected merchants with nearby customers looking for takeout and delivery for the past 20 years. The company's logistics network covers the vast majority of the U.S. population with on-demand delivery from restaurants, as well as convenience, grocery, pet and office supply retailers. Grubhub recently partnered with Albertsons Cos. Inc. in June to bring almost 1,800 of the grocery retailer’s stores, including the Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme and Tom Thumb banners, to Grubhub’s Marketplace for delivery.
"I am incredibly excited for Grubhub to join forces with Wonder and bring more value to our diners, merchants and delivery partners," said Howard Migdal, CEO of Chicago-based Grubhub. "Since our earliest days, Grubhub has helped restaurants open their doors to new customers, while introducing diners to new cuisines. That's why I'm confident that Grubhub will complement Wonder's mission to make great food more accessible and that together we will create remarkable dining experiences for more customers across the country."
Jefferies was Wonder's exclusive financial advisor on the Grubhub transaction.