Operations

Restaurant delivery service Waitr to buy Bite Squad for $321.3M

Photograph: Shutterstock

One restaurant ordering and delivery platform is aiming to expand with the acquisition of a fellow food deliverer.

Waitr Holdings will purchase Minneapolis-based Bite Squad for $321.3 million, the buyer announced Wednesday.

As a result of the deal, Waitr said its reach will grow to more than 500 U.S. cities.

“We have followed Bite Squad’s growth and success for many years and believe their mission, business model and growth profile share many similarities to Waitr,” Chris Meaux, Waitr CEO, said in a statement. “We believe that a small fraction of the U.S. restaurant industry’s sales are from off-premise online transactions and this is evolving rapidly.”

Bite Squad, which was started in 2012, has a network of over 11,000 restaurants and around 889,000 diners, according to a news release.

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