Largest European Retailer to be Acquired by Chinese E-commerce Giant JD.com, MediaMarkt and Saturn Included in the Deal
In a significant move for the European retail industry, JD.com, the Chinese e-commerce giant, has announced plans to acquire Ceconomy, a leading player in the consumer electronics market. The acquisition, expected to be completed in the first half of 2026, is set to bring about a host of changes and opportunities for both companies.
Ceconomy, headquartered in Düsseldorf, currently employs approximately 50,000 people and boasts a turnover of €22.4 billion last year. Online sales contributed €5.1 billion to this total, reflecting the growing importance of digital sales in the retail sector. The company operates over 1,000 stationary stores in 11 European countries, making it Europe's largest retailer for consumer electronics.
The MediaMarkt and Saturn brands, which are synonymous with Ceconomy, will remain intact as part of the acquisition. JD.com has committed to maintaining the existing structure, organization, and brand architecture of Ceconomy for a period of five years after the offer is completed.
JD.com will bring advanced technology, omnichannel trading expertise, international logistics, supply chain, and warehousing capabilities to the table. This collaboration is expected to help Ceconomy drive the digitization of its core business, further develop its technology platform, and improve logistics networks and supply chain management.
In a bid to ensure stability and continuity, JD.com has agreed not to make any forced redundancies for at least three years within Ceconomy. Existing collective bargaining agreements, wage agreements, and co-determination in the supervisory board will also be maintained. The current Ceconomy board will continue to be responsible for implementing the company's strategy and day-to-day operations.
Dr. Kai-Ulrich Deissner, CEO of Ceconomy, believes that this partnership will accelerate growth and exceed strategic goals. JD.com will also work closely with the current Ceconomy board to achieve these objectives. The companies do not anticipate any antitrust hurdles in the acquisition process.
Deloitte GmbH, which has an investment agreement with JD.com, will be facilitating the voluntary public takeover of Ceconomy shares at a price of 4.60 euros per share in cash. With this acquisition, JD.com aims to strengthen its global presence and expand its footprint in the European market.
The CB-Funk Podcast #136 discussed this transformative news, along with other topics such as FSR 4 on RDNA 3 and the 'Mouse Revolution'. As the details of this acquisition unfold, it is clear that this partnership between JD.com and Ceconomy promises to reshape the European retail landscape.
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