Uber Agrees to Buy ezCater for $2.3 Billion

Uber has agreed to acquire workplace-catering platform ezCater for $2.3 billion in cash, the companies announced Tuesday, October 6. The transaction would expand Uber’s food-delivery business into catering, combining ezCater’s restaurant network and business-ordering tools with Uber Eats and Uber for Business. The deal remains subject to regulatory approval and other standard closing conditions; it has not been completed. Uber said it plans to integrate ezCater’s catering tools with Uber Eats and Uber for Business. The services connect companies with restaurants for meals at meetings and events as well as recurring workplace food programs. The companies said the combination would bring together ezCater’s catering and business-to-business expertise, Uber’s reach among consumers and restaurants, and Uber for Business’s corporate relationships. According to the announcement, ezCater serves more than 140,000 restaurants across the United States and recorded more than $2.5 billion in gross bookings over the 12 months before the announcement. The release also put ezCater’s average order value above $400.