SkipTheDishes is being acquired by a U.K based online food delivery company for $110 million.
Just Eat PLC announced Thursday it is buying the company primarily from its existing cash resources.
SkipTheDishes CEO and co-founder Joshua Simair said it’s an exciting day for his company.
“Through the hard work of our fantastic team, we have enjoyed substantial growth since we started our company four years ago,” Simair, who is originally from Prince Albert, Sask., said in a statement.
“By joining forces with Just Eat, we are bringing together two business models which will leave the combined business well-positioned to address the Canadian online food delivery market’s unique characteristics and unlock its considerable unrealized potential.”
David Buttress, the CEO of Just Eat, said the acquisition positions his company to become a market leader in Canada.
“Canada is a phenomenally exciting country for online food delivery, with a significant runway for growth and a clear opportunity to drive channel shift,” Buttress said in a statement.
“SkipTheDishes’ outstanding team, technological know-how and operational excellence has enabled it to develop a business model well-suited to Canada’s unique market conditions. It will complement our existing operations so that Just Eat is best-placed to address this fast-growing market.”
SkipTheDishes originally started in Saskatoon in 2012 before expanding to other markets.
In 2014, the company was the winner the I3 Idea Challenge at the Wilson Centre on the University of Saskatchewan campus.
That same year, the company set up its national headquarters in Winnipeg.
Earlier this year, the Saskatchewan government said it was giving the company $3 million to create jobs in the province.
That agreement was later cancelled after government officials said the company was not meeting hiring and space acquisition conditions set out in the contract.
Global News David Giles (2016, December 15). Retrieved from http://globalnews.ca/news/3129195/u-k-online-food-delivery-company-buying-skipthedishes-for-110m/