Just Eat buys Canadian-based SkipTheDishes for $110M
A delivery person for SkipTheDishes is shown in this file photo.
The Canadian Press
Published Thursday, December 15, 2016 1:13PM EST
WINNIPEG - SkipTheDishes, an online food delivery company that founded in Saskatoon and headquartered in Winnipeg, is being sold to a company in England.
The London-based Just Eat says in a news release that it's buying SkipTheDishes for CAD$110 million, to be primarily funded from existing cash resources.
Just Eat says SkipTheDishes has a selection of more than 2,900 unique restaurants and 350,000 active customers, so the deal will help with Just Eat's plan to be the market-leader in online food delivery in Canada.
SkipTheDishes operates in 14 Canadian cities, mostly in Western Canada, and six cities in the U.S. Midwest.
According to the news release, Canada's growing online food delivery market is worth about $2.5 billion a year and SkipTheDishes is expected to generate revenue of $23.5 million this year.
The deal is expected to be completed Thursday.