Denver, CO (May 6, 2016) - Headwaters MB advised LAbite, one of the largest restaurant delivery services in the U.S., on its sale to GrubHub. Terms of the transaction were not disclosed.
Based in Southern California, LAbite works with thousands of local restaurants and hundreds of local professional drivers for reliable delivery of your favorite meals. LAbite diners ordered almost $80 million in gross food sales, with most of the volume coming from the greater Los Angeles area. In addition, LAbite owns and operates Eat Out In based in Austin, Houston, and San Antonio and Waiters On Wheels in the San Francisco Bay area.
"We are excited by the acquisition of LAbite as it adds to the tremendous strides we've made in expanding the breadth and depth of our delivery network and boosts our presence in an important market," said Matt Maloney, CEO of GrubHub. "With more than 5,000 restaurants now using Grubhub delivery and our total network comprised of more than 44,000 restaurants, we are making great progress towards fulfilling our goal of being the most comprehensive marketplace for takeout diners and restaurants."
Jeff Ackerman, Managing Director at Headwaters MB commented, “we are pleased to have represented LAbite on its sale to GrubHub, representing the second major U.S. restaurant delivery service we have represented in a sale to GrubHub in the last six months. GrubHub is committed to building out a world-class delivery network in support of their goal of connecting diners with the best local restaurants in over 1,000 cities. LAbite provides a coveted network of restaurants and drivers in Los Angeles, Austin and the San Francisco Bay Area that will support this goal.”
About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major organizations for its third consecutive year, Headwaters MB is headquartered in Denver, CO with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit www.headwatersmb.com.
Started in 2001, LAbite was a pioneer in the restaurant delivery service industry. LAbite grew to become the market leader in Los Angeles, and has added Austin, San Antonio, Houston, and the San Francisco Bay Area to its coverage in recent years. LAbite connects diners with over 2,000 restaurants and hundreds of local professional drivers, delivering over 5 million meals to Southern California homes and offices each year. For more information, visit www.labite.com.
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