“Ansarada’s data room was very good and we’re very happy with the service.” Dan Katz, CEO, Menulog.
When you’re hungry for an M&A deal who do you call?
Dan Katz, chief executive officer of Australian online food-ordering company Menulog, called ansarada when its UK rival, Just Eat, sought due diligence ahead of a $855 million takeover.
“Ansarada’s data room was very good and we’re very happy with the service,” says Mr Katz. “There was an ease of use.”
The price that was agreed to be paid by Just Eat for Menulog was equivalent to 371 times EBITDA. It was the biggest acquisition in the online food-ordering sector, according to the Financial Times.
Mr Katz used Ansarada’s M&A data room when Menulog earlier merged with its fellow Australian online takeaway ordering company EatNow.
“The whole process was smooth,” says Mr Katz.
Goldman Sachs and Clifford Chance advised Menulog on both its deals: the merger with EatNow and Just Eat’s acquisition.