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Business deals

Germany's Delivery Hero to carry more food in Southeast Asia

Purchase of South Korea's Woowa will heat up race with Grab and Gojek

Woowa Brothers delivers food from more than 200,000 restaurants in South Korea.

SEOUL/FRANKFURT, Germany -- Multinational meal-ordering service Delivery Hero seeks a bigger portion of Southeast Asia's market with its planned acquisition of South Korean peer Woowa Brothers, intensifying a battle with rivals such as Grab and Gojek over the fast-growing region.

Asia's food delivery market remains in its infancy, and the region's big population offers room for growth, CEO Niklas Ostberg said, as the Berlin-based company plans to spend more than double its 2019 revenue in a $4 billion deal for Woowa.

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