An online food delivery company with roots in Saskatchewan and headquartered in Winnipeg has been bought by an online rival.
In a news release issued Thursday, U.K.-based Just Eat plc announced its plans to buy SkipTheDishes for $110 million.
"This is a hugely exciting day for SkipTheDishes," Joshua Simair, CEO and co-founder of SkipTheDishes, said in a news release. "Through the hard work of our fantastic team, we have enjoyed substantial growth since we started our company [three] years ago."
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Just Eat said SkipTheDishes' customer base of 350,000 users, as well as its strong growth numbers, made the company attractive.
The company estimates Canada's online food delivery market is worth more than $2.5 billion.
"The acquisition of SkipTheDishes complements Just Eat's existing operations and strengthens its No. 1 position in Canada. It gives the combined company significant opportunity for growth," Howard Migdal, a manager with Just Eat, said in a release.
Just Eat also acquired rival U.K.-based Hungryhouse for $278 million.
SkipTheDishes recently made news in Saskatchewan when the provincial government approved a $3 million training subsidy for the company. However, the deal was scrapped last month.
It's estimated SkipTheDishes will make $23.5 million in 2016.
The acquisition is expected to be completed Thursday.
The company was founded in Saskatoon in 2013 by Joshua, Daniel and Chris Simair, Jeff Adamson and Andrew Chau.