Waitr Enters into Asset Purchase Agreement with Delivery Dudes
March 09 2021 - 8:47AM
Business Wire
Waitr Holdings Inc. (Nasdaq: WTRH) (“Waitr” or the “Company”), a
leader in on-demand food ordering and delivery, today announced the
Company has entered into a definitive agreement to acquire
substantially all of the assets of Delivery Dudes, a Delray Beach,
Florida based food delivery company. We expect this transaction to
close prior to the end of next week, subject to satisfaction of
closing conditions and deliverables.
“Delivery Dudes affords us the opportunity to further expand our
footprint in the Florida delivery marketplace,” said Carl Grimstad,
CEO and Chairman of the Board of Waitr. “The Dudes have created a
strong brand presence in South Florida and we are excited to have
them join our team. Their well-trained and friendly staff, combined
with reliable drivers, deliver fresh food from top local
restaurants - a perfect fit for Waitr.”
“We’ve been working hard for the last decade and are excited to
join Waitr, a company that shares our entrepreneurial spirit and
believes in us,” said Jayson Koss, CEO of Delivery Dudes. “With
Waitr’s resources, we look forward to growing the South Florida
market and working to help Waitr expand their market presence. We
believe 2021 will be an exciting year.”
The purchase price for the acquisition is approximately $23
million in stock and cash.
About Waitr Holdings Inc.
Founded in 2013 and based in Lafayette, Louisiana, Waitr is a
leader in on-demand food ordering and delivery. Waitr and its
sister brand, Bite Squad, connect local restaurants and grocery
stores to hungry diners in underserved U.S. markets. We provide a
convenient way to discover, order and receive great food from local
restaurants, grocery stores and national chains. As of December 31,
2020, Waitr and Bite Squad operated in small and medium sized
markets in the United States in over 700 cities.
About Delivery Dudes LLC
Founded in 2009 and based in Delray Beach, Florida, Delivery
Dudes is a leader in premium food delivery in the South Florida
market. In 2020, Andreessen Horowitz issued his top 100 private
company marketplace apps ranking Delivery Dudes #46. As of Dec 30,
2020, Delivery Dudes operated in small and medium sized markets in
the United States in over 50 cities, mainly in South Florida, with
the goal of making life better one delivery at a time.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements,” as
defined by the federal securities laws, including statements
regarding the Company’s financial results, implementation of
strategic initiatives and future performance of the Company.
Forward-looking statements reflect Waitr’s current expectations and
projections about future events, and thus involve uncertainty and
risk. The words “believe,” “expect,” “anticipate,” “will,” “could,”
“would,” “should,” “may,” “might,” “plan,” “estimate,” “intend,”
“predict,” “potential,” “continue,” and the negatives of these
words and other similar expressions generally identify
forward-looking statements. Such forward-looking statements are
subject to various risks and uncertainties, including the impact of
the coronavirus (COVID-19) pandemic on the Company’s business and
operations, and those described under the section entitled “Risk
Factors” in Waitr’s Annual Report on Form 10-K for the year ended
December 31, 2020, filed with the SEC on March 8, 2021, as such
factors may be updated from time to time in Waitr’s periodic
filings with the SEC, which are accessible on the SEC’s website at
www.sec.gov. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. These factors should not
be construed as exhaustive and should be read in conjunction with
the other cautionary statements that are included in this release
and in Waitr’s filings with the SEC. While forward-looking
statements reflect Waitr’s good faith beliefs, they are not
guarantees of future performance. Waitr disclaims any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, new information, data
or methods, future events or other changes after the date of this
press release, except as required by applicable law. You should not
place undue reliance on any forward-looking statements, which are
based only on information currently available to Waitr (or to third
parties making the forward-looking statements).
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