JD.com Completes Voluntary Public Takeover Offer of CECONOMY

JD.com, Inc., a leading supply chain-based technology and service provider, today announced the completion of its previously announced voluntary public takeover offer for CECONOMY AG , acquiring 59.8% of the share capital and voting rights of CECONOMY with total consideration of EUR 1,335 million. As a result, CECONOMY becomes a subsidiary of JD.com, and its financial results are consolidated into JD.com’s consolidated financial statements from November 12, 2026. Together with the 25.3% stake retained by JD.com’s partner Convergenta, this acquisition brings our combined shareholding in CECONOMY to 85.2%. The offer was made through JINGDONG HOLDING GERMANY GMBH, an indirect wholly-owned subsidiary of JD.com, at EUR 4.60 in cash per share. This follows the fulfillment of all offer conditions for completion of the transaction, including merger control clearances, foreign investment clearances and EU foreign subsidies clearance.

“JD.com and CECONOMY share a common vision to build Europe’s leading next-generation consumer electronics platform. We can now start to implement our vision and bring it to life,” said Sandy Xu, CEO of JD.com. “CECONOMY has a clear and compelling strategy for the European retail market and for Europe’s consumers. Supported by its talented employees, strong brand recognition, and extensive online and offline capabilities, it has the foundations from which to grow and thrive. We are also confident our partnership supports Europe’s broader objectives for innovation and competitiveness, and will contribute to a more dynamic European consumer retail market.”

“Today marks the beginning of a new chapter for CECONOMY. Our partnership with JD.com has become reality and we are ready to move into implementation with full momentum,” said Remko Rijnders, CEO of CECONOMY. “CECONOMY has the right foundation to accelerate its ambition of becoming Europe’s most trusted tech platform. What stays the same is everything that makes us strong, our mission, our iconic brands, our employees and our commitment to our customers. What changes is that we can now move from vision to action, combining our local expertise and customer relationships with JD.com’s technology and logistics capabilities to deliver an even better experience for European consumers.”

CECONOMY operates more than 1,000 consumer electronics stores in 11 markets under the MediaMarkt, Saturn and MediaWorld brands, alongside its online retail operations. The business employs more than 50,000 people and, in 2025, had more than 53 million loyalty members and 2.2 billion annual customer contacts. Its established customer relationships and combination of digital and physical retail channels provide a strong foundation for the partnership’s next phase of growth.

As part of the strategic roadmap, CECONOMY will remain a stand-alone business in Europe with a local independent technology stack, and no changes are planned to the workforce, employee agreements and sites. JD.com is committed to investing in CECONOMY’s strong consumer brands and staying true to their heritage. CECONOMY will continue to focus on developing its long-lasting customer relationships and building new ones across its omni-channel platform.

In LinkedIn posts, JD.com and CECONOMY said: 

🎉 A new chapter begins! We are delighted to announce JD.com and CECONOMY have successfully completed their voluntary public takeover, marking a significant milestone in our international expansion strategy.

JD.COM and CECONOMY are entering the implementation phase of our partnership, with a shared ambition to create Europe's leading next-generation consumer electronics platform 🖥️ 📱📹 💻

🫱🏼‍🫲🏻 We warmly welcome our new colleagues from CECONOMY, home to iconic European retail brands, including MediaMarktSaturn and MediaWorld, with more than 1,000 stores across 11 countries 🇪🇺

JD.com CEO, Sandy Xu said: "We can now start to implement our vision and bring it to life. CECONOMY has a clear and compelling strategy for the European retail market and for Europe's consumers. Supported by its talented employees, strong brand recognition, and extensive online and offline capabilities, it has the foundations from which to grow and thrive."

CECONOMY CEO, Remko Rijnders, said: "We can now move from vision to action, combining our local expertise and customer relationships with JD.com's technology and logistics capabilities to deliver an even better experience for European consumers.”

By bringing together CECONOMY's deep understanding of customers and established local presence, with JD.com's capabilities in technology and logistics, we see exciting opportunities to drive innovation and deliver even better and faster shopping experiences.

We are also confident our partnership supports Europe's broader objectives for innovation and competitiveness, and will contribute to a more dynamic European consumer retail market.

Here's to what comes next. 🌍 🙌🏼

The Insight DIY Perspective

• JD.com’s acquisition of CECONOMY is about much more than gaining control of MediaMarkt and Saturn. It represents a significant step in the international expansion of a technology-led retailer whose competitive strength lies in combining digital retailing, sophisticated logistics and an extensive physical store network. For the wider European retail sector, including DIY and home improvement, the interesting question is how effectively JD.com can translate its supply chain expertise and technology into a more seamless online-to-offline customer experience. The opportunity to combine local market knowledge and established customer relationships with a global technology and fulfilment platform could set new expectations for convenience, delivery speed and service.

• There is also an important competitive dimension. JD.com’s ambition to build a leading European retail platform comes with the potential to reshape expectations around logistics and fulfilment, but regulatory commitments mean its warehousing, logistics and technology services must also be made available to other retailers on equivalent terms. This creates an interesting dynamic: rather than simply giving CECONOMY an exclusive advantage, the acquisition could ultimately contribute to raising the competitive bar across multiple retail sectors. For DIY retailers, where product availability, delivery economics and the integration of physical stores with digital channels remain critical differentiators, the longer-term implications are worth watching.

Source : JD.com

Image : JD.com - Left to right - Jack Li, CEO, JD Worldwide & Remko Rijnders, CEO, CECONOMY)

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