DoorDash buys European delivery company Wolt for USD 8 billion

Categories: Corporate and M&A

On-demand delivery giant, DoorDash is to acquire Wolt in a USD8 billion deal that is expected to close next year. The acquisition is the second acquisition for DoorDash in 2021, after acquiring Chowbotics earlier this year.

Founded in 2014, Wolt is a Finland-based company that contracts out couriers to deliver takeout, groceries, and other goods to customers in 23 countries mainly throughout Europe, as well as Japan and Israel.

Wilson Sonsini Goodrich & Rosati represented DoorDash in the transaction, together with Avance Attorneys and Allen & Overy, while
Erdinast, Ben Nathan, Toledano & Co. With Hamburger Evron advised DoorDash on the Israeli aspects of the transaction.
Partners Doni Toledano and Nitzan Aberbach, along with senior associate Eyal Birenberg, (Labor Law Department) led the transaction on behalf of EBN, with the assistance of senior associate Einat Amitay, and associates Idan Batuner, Racheli Harel, May Zbeda and Shere Danino, of the M&A and Corporate Department. Also assisted partner Moty Yamin (Securities and Capital Markets), partner Michal Rothschild and associate Sarah Talisman (Competition) and partner Lior Etgar (Privacy and Data Protection).

To date, Wolt has raised USD 850 million, according to its Crunchbase profile.

The deal will expand its operations beyond the US, Canada, and Australia. All of Wolt’s 4,000 employees will remain active under DoorDash, including Wolt co-founder and CEO Miki Kuusi, who will serve as the head of DoorDash International. The deal is set to officially close in the second half of 2022.

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