Uber to Acquire ezCater for $2.3B Cash Deal

In Short

• Uber has agreed to acquire ezCater in an all-cash deal valued at $2.3 billion.
• Uber says the deal will bring catering and workplace meal ordering into Uber Eats.
• The acquisition is expected to close in the coming months, subject to regulatory approvals.

What Happened

Uber is buying ezCater, a US platform focused on catering and workplace meals, for $2.3 billion in cash. Uber says the plan is to bring ezCater’s catering tools into Uber Eats, making it easier for customers to order food for groups.

Catering is different from a typical food delivery order. It usually means larger group orders for meetings, events, and company meal programs. These orders also tend to be scheduled in advance and need clearer coordination on delivery and setup.

Uber said ezCater works with more than 140,000 restaurants across the US. The company also offers tools for businesses to manage ordering and food spend, plus 24/7 customer support.

Uber shared a few performance details to explain the value of the deal. ezCater generated over $2.5 billion in gross bookings over the trailing twelve months. Gross bookings means the total value of orders processed on the platform, not the company’s revenue. Uber also said ezCater is profitable on a non-GAAP operating income basis, meaning profitability after adjustments that exclude some accounting items.

Why It Matters

For Uber, catering could increase order size and improve unit economics, because ezCater’s average order value is over $400. Larger baskets can help delivery platforms earn more per trip, even after driver pay and logistics costs.

For restaurants, catering can be a high-margin revenue stream when operations are consistent. Uber is positioning the acquisition as a way to generate more high-value orders and bring in new diners.

Outside the US, the move is also a signal. If Uber proves it can standardise catering operations in one large market, similar “group ordering” features could later show up in other regions where Uber Eats operates, including parts of Africa where workplace meal programs are growing.