Delivery Hero’s confirmation that it has accepted a takeover bid from Uber opens a new chapter for the delivery sector in Europe, and Greece is part of this potential shake-up.
As is well known, the German company Delivery Hero controls efood, the largest player in the Greek delivery market. If the deal goes through, Uber will not simply enter the Greek market via Uber Eats, as was the most likely scenario until recently. It will directly acquire control of the dominant player, changing the terms of competition from day one.
Of course, Uber’s proposal to acquire Delivery Hero does not come as a bolt from the blue. In recent weeks, Uber increased its stake in Delivery Hero to 19.5%, making itself the German company’s largest shareholder. A few days later, it was confirmed that Uber had submitted a takeover bid valued at 33 euros per share.
For the Greek market, the implications of such a deal extend far beyond the narrow scope of food delivery. Until now, the market had anticipated that Uber Eats would attempt an independent entry into Greece—a move confirmed by its headquarters—competing for market share against efood, Wolt, and Box.
In this scenario, Uber would have had to invest significant capital to build a network of partners, a customer base, and infrastructure from scratch. As early as last February, it had become known that Uber Eats was planning to enter Greece in the coming months, a move confirmed by staffing changes within the local team.
In contrast, through the acquisition of Delivery Hero, the equation changes completely. Uber will not have to wage a long and costly battle for market penetration. It will gain immediate access to a mature ecosystem with a recognizable brand and a leading market position.
This won’t be the first time the European delivery market has changed hands. A similar precedent occurred when the Finnish company Wolt came under the control of the American firm DoorDash. If Uber now acquires Delivery Hero, then two American giants will find themselves controlling a significant portion of the European food delivery market and, by extension, a large segment of the Greek market.
However, the issue is not limited to food delivery. Uber is primarily a transportation and logistics company, with expertise in fleet and route management as well as real-time digital services.
Of course, before any agreement is reached, regulatory authorities —and particularly competition commissions in the affected markets—will play a decisive role.
In Greece, delivery has become a daily consumer habit, with the domestic market valued at more than €2 billion annually. Such a restructuring could directly impact both consumers and partner stores.
In the short term, consumers may see more aggressive promotions, lower delivery costs, and more competitive loyalty programs, as platforms attempt to strengthen their position.
In the longer term, however, the greater concentration of power could increase the dependence of restaurants, small businesses, and distributors on a limited number of powerful players.