Dutch food delivery giant Takeaway.com announced on Sunday that it had signed an agreement to acquire Israeli takeout company 10bis for €135 million ($158 million).
10bis, which is a play on the Hebrew phrase "give it a bite," is one of the most popular companies for workplace food deliveries in Israel. Its online interface connects thousands of restaurants in Israel, providing employers with an easy way to subsidize meals for their employees.
Founded in 2000 by Israeli businessman Tamir Carmel using his own resources, and has since become a status symbol for high-tech employees. Two years ago, the Boston-based private equity firm TA Associates bought a stake in the company.
According to a statement released by Takeaway.com on Sunday, "10bis processed 15.2 million orders worth more than €140 million [$164 million] of gross merchandise value in 2017."
Takeaway.com, which calls itself "the leading online food delivery marketplace in Continental Europe and Vietnam … with nearly 33,000 connected restaurants," said it processed more than 68 million orders in 2017.
Following the signing of the deal, Carmel said, "I am proud of the excellent team we have at 10bis, who built the business with professionalism and determination over the past 18 years. The recognition of 10bis as one of the strongest and most loved brands in Israel propels us to continue to serve our customers in the best way."
Joerg Gerbig, COO of Takeaway.com, said, "10bis has built a very attractive and one of the few highly profitable online food marketplaces globally. We are excited to welcome the 10bis team at Takeaway.com."
