Chinese online retail titan JD set for acquisition of Media Markt and Saturn, European electronics retailers - Chinese e-commerce titan JD makes deal to purchase Mediamarkt and Saturn, two major European retailers
In a significant move, Chinese internet giant JD.com has announced plans to acquire Ceconomy, the parent company of Europe's leading consumer electronics retail brands MediaMarkt and Saturn. The deal, valued at approximately €2.2 billion, aims to create a leading European omnichannel consumer electronics platform [1][2][3][4].
The acquisition will grant JD.com control over MediaMarkt and Saturn, which operate over 1,000 stores in 11 countries and have a substantial e-commerce presence. JD.com intends to enhance the digital and omnichannel capabilities of these brands by leveraging its expertise [3][4].
The partnership focuses on accelerating Ceconomy's digital transformation. JD.com's industry-leading technology and integrated omnichannel shopping experience will be integrated with Ceconomy's operations to improve customer experience and operational efficiency. The deal is intended to strengthen Ceconomy's Experience Electronics strategy and support growth via enhanced e-commerce, logistics, and technology platforms [1][2][3].
JD.com has committed to preserving Ceconomy's longstanding European heritage, including workforce continuity. The agreement ensures operational independence for Ceconomy without domination or profit and loss transfer agreements, reflecting a commitment to maintaining employee stability and protecting jobs [1][2].
The takeover offer represents a 43% premium over Ceconomy's recent share price. Anchor shareholders representing about 32% of the capital have committed to accepting the offer. Ceconomy's founder family shareholder Convergenta will retain approximately 25.4% of shares post-takeover, underpinning leadership continuity [2][4].
The offer document will be submitted in August/September 2025, with regulatory approvals and closing anticipated in the first half of 2026, and a planned take-private transaction around June 2026 [1].
In the 2023/24 financial year, Ceconomy recorded sales of 22.4 billion euros, with 23.6% coming from online business. JD.com, based in Beijing, will support Ceconomy in expanding its digital business [5].
Notably, Ceconomy operates in various locations, including Düsseldorf, and has a strong online retail presence. The company's stores can be found in cities across Europe [6].
The acquisition has sparked discussions about social responsibility for Ceconomy's employees. Verdi, the service trade union, has called on JD.com to take on this responsibility [7]. Corinna Groß, federal industry group leader for retail at Verdi, emphasized the need for a sustainable future concept and investments for branches and stationary trade [8].
In conclusion, the agreement establishes JD.com’s full acquisition of Ceconomy, including MediaMarkt and Saturn, aiming to combine strengths for a leading European consumer electronics omnichannel platform while prioritizing technological growth and preserving employee commitments.
[1] JD.com to Acquire Ceconomy [2] JD.com and Ceconomy Announce Agreement [3] JD.com to Buy Ceconomy for €2.2 Billion [4] JD.com to Acquire MediaMarkt and Saturn Parent Company Ceconomy [5] Ceconomy's Financial Performance [6] Ceconomy's Store Locations [7] Verdi Calls on JD.com to Take Social Responsibility [8] Verdi Emphasizes Need for Sustainable Future Concept
- To strengthen its presence in the European market, JD.com plans to employ its expertise in technology and integrated omnichannel shopping experience to improve Ceconomy's business operations, aiming to enhance the customer experience and operational efficiency of MediaMarket and Saturn.
- In the pursuit of a sustainable future, Verdi, the service trade union, has called on JD.com to take on its social responsibility by investing in branches and stationary trade, ensuring a stable workforce and supporting employee commitments as part of its acquisition of Ceconomy.
