The deal is expected to close in the first quarter of 2025, and Just Eat Takeaway expects net proceeds of $50 million. Wonder, which started as a food delivery business in 2018 but has since pivoted to operating delivery-focused restaurants in New York and Philadelphia, will take on $500 million of Grubhub’s debt.

The divestiture comes as food and grocery delivery becomes an increasingly unprofitable endeavor for businesses that bet the farm on the model during the COVID-19 pandemic and later, when people sheltering in place and social distancing opted to order in food and grocery items they would previously buy in person.