The “dudes” in Florida are getting a nice windfall from Waitr. Publicly traded Waitr, which is based in Louisiana, announced it has entered an asset purchase agreement with Delivery Dudes.
Waitr, the third-party delivery platform with a focus on smaller markets, said the transaction could close within the next week. CEO Carl Grimstad said it’s a good extension for Waitr to the Florida trade area with a well-loved brand.
“Delivery Dudes affords us the opportunity to further expand our footprint in the Florida delivery marketplace,” said Grimstad in a release announcing the acquisition. “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.”
There aren’t a lot of details just yet, but Delivery Dudes founder and CEO Jayson Koss said he was excited to join Waitr, so it seems he’ll be a part of the continued growth of the brand.
“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 Koss. “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.”
One key detail was the price. The purchase price came in at $23 million in stock and cash.
Waitr has gone through some serious changes under Grimstad, and this acquisition shows that growth and change will continue. He joined the company in 2020 in what looked like another revolution in the revolving door of leadership. The company, however, got a drastic overhaul and in July of 2020 the company pre-announced a more than $30 million earnings swing from negative $14.9 million to positive $15 million. Since then, the company announced it would deliver alcohol from restaurants and announced a plan to get into the recreational cannabis market.
Stay tuned for more details on this deal as the ink dries.