Uber to buy ezCater for $2.3 billion

Uber Technologies Inc. has agreed to acquire U.S. catering platform ezCater in an all-cash transaction valued at $2.3 billion. The deal is designed to expand Uber’s reach in food delivery beyond consumer takeaway orders into the workplace and corporate events segment. The transaction is subject to regulatory approval and other customary closing conditions and is expected to close in the coming months.

The acquisition targets the fast-growing market for food at meetings, events and recurring workplace meals, where order sizes are typically larger than consumer deliveries. Uber’s move adds a dedicated catering-focused marketplace to its existing delivery infrastructure, positioning the company to serve higher-value group orders across the U.S.

Boston-based ezCater operates a nationwide catering marketplace that connects businesses with restaurants and caterers. Over the trailing 12 months, the platform generated more than $2.5 billion in gross bookings, highlighting the scale of its corporate and workplace demand. Average order values on the service are reported to be above $400, reflecting the group-oriented nature of its typical orders.

ezCater works with more than 140,000 restaurants across the country, giving it broad geographic coverage and a large supply base for corporate customers. The company is reported to be profitable on a non-GAAP operating-income basis, an important factor for Uber as it continues to emphasize profitability in its own operations.

Uber intends to integrate ezCater’s catering and business-to-business tools with Uber Eats and Uber for Business. This combination is aimed at expanding Uber’s workplace catering and group-order offerings, using ezCater’s specialized software and restaurant network alongside Uber’s logistics and delivery capabilities.

By adding ezCater’s platform, Uber seeks to offer corporate clients a more comprehensive solution that spans everyday individual meals, large catering orders and recurring workplace programs. Uber has indicated that it expects the ezCater acquisition to be margin accretive, supported by ezCater’s existing profitability on a non-GAAP operating basis.

Analysts and market coverage note that the acquisition could help Uber narrow its gap with DoorDash (DASH) in the U.S. food-delivery market. A dedicated catering network allows Uber to pursue more workplace and corporate accounts, complementing its established consumer delivery business.

The move underscores how competition in food delivery is extending into specialized segments such as catering and business dining. By combining ezCater’s large-order expertise with its own scale in on-demand logistics, Uber is positioning itself to compete more directly for a broader range of food-service spending across both consumer and corporate channels.