Just Eat swallows competition 

Winnipeg based Skip the Dishes, an on-line food delivery service, has been purchased by it’s British based competitor Just Eat in a deal worth $110 million.

Just Eat announced on Thursday that they had purchased Skip the Dishes in a combination cash and stock deal. The $110 million is split between $100 million “immediately on deal completion” and $10 million payable in 12 months in the form of company shares in Just Eat.

“This is a hugely exciting day for SkipTheDishes,” CEO and co-founder Josh Simair said in a statement.

Just Eat said that SkipTheDishes “is highly complementary to Just Eat’s existing Canadian operations, with limited geographical overlap between the two companies.”

Skip the Dishes has more than 2,900 restaurants and 350,000 active customers. Just Eat has more than 16 million users and over 63,900 restaurants world wide.

The Canadian on-line food delivery business is estimated to be worth $2.5 billion annually. It is estimated that Skip the Dishes, which started in 2013 will generate $23.5 million in 2016.

-News4 Staff-