Cor Emus schreef op 11 april 2024 12:54:
DELIVERY FIRMS: M&A ON THE MENU FOR 2024
Barclays says M&A could be the emerging story this year for global food delivery firms, with some companies divesting assets to create shareholder value, while others buying and expanding.
"Activist investors across the EU publics, supervoting shares expiring, and US players at ATHs (all-time highs) could be a cocktail for interesting moves in 2024," the UK bank says in a note.
Citing recent company comments, Barclays adds that DoorDash and Uber could be possible buyers. On the other hand, the European peers and potentially Instacart could be involved in industry consolidation.
The analysts see growth for the global food delivery industry as consistently solid in low double digits this year.
"This is a healthy growth rate, and relative to many e-commerce verticals we have real confidence that this industry, in aggregate, can grow nicely and drive strong incremental margins from here," they add.
They keep their positive view on Uber and Instacart in the U.S. and Delivery Hero and Deliveroo in Europe.
Once pandemic-era darlings, shares in delivery firms have moved off highs in the last two years, but are recouping some losses so far this year.
(Anna Pruchnicka)