Uber Agrees $2.3bn Cash Deal for Catering Platform ezCater
Uber has agreed to buy workplace catering platform ezCater for $2.3bn in cash, a small deal for a company worth about $142bn that gives Uber a route into large corporate food orders.
Uber (US: UBER) has agreed to buy ezCater, a Boston-based workplace-catering marketplace, for $2.3bn in cash. The announcement came today, and shares in the ride-hailing and delivery group were little changed.
Uber was down 0.24% at $69.31 in a delayed quote at 3.58pm London time, against yesterday’s close of $69.48. That leaves the stock nearer the bottom of its 52-week range of $65.41 to $100.35, below its 50-day average of $73.03.
The deal is expected to close within the next few months , subject to regulatory approvals and closing conditions. J.P. Morgan advised Uber and Evercore advised ezCater. ezCater connects offices with restaurants for catered meals, working with more than 140,000 restaurants, and its average order is above $400. Uber’s chief executive, Dara Khosrowshahi, pointed to the size of those orders:
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Catering is a big business, and can be a huge revenue stream for restaurants,
Dara Khosrowshahi, Uber
The $2.3bn price is about 1.6% of Uber’s market value and roughly 0.9 times ezCater’s gross bookings, the total value of orders placed, of more than $2.5bn over the past 12 months. Those bookings are growing at a high-teens rate. ezCater is profitable on a non-GAAP operating income basis, meaning on an adjusted measure, and the deal is expected to add to Uber’s margins. ezCater was last valued at $1.6bn in a private funding round, according to the Boston Globe.
Uber (UBER.US) daily closing price, USD, July to early October 2026, with the 6 October announcement date marked.
Nihad Rahman, ezCater’s chief executive, said the company was “energized to bring our catering and B2B expertise to Uber’s global ecosystem of customers, merchants, and couriers.”
Uber said the purchase will help restaurants win bigger orders and give couriers more chances to earn. Its delivery gross bookings rose 25% in the quarter to the 30th of June, and Khosrowshahi has described large orders and pickup as a major addressable opportunity. DoorDash, a rival, said in April it would launch workplace catering delivery.
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Uber reports third-quarter results on the 4th of November at 8am US Eastern time.
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