JD.com
Acquisitions
4
Major Deals Covered
$1.4B
Disclosed Deal Value
JD.com's largest disclosed acquisition here is Deppon Logistics for $1.4B in 2022. This page covers 4 major deals from 2016 to 2025, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Ceconomy AG | 2025 | Undisclosed | Tender offer for the German parent of MediaMarkt and Saturn to expand into European physical electronics retail. |
| Deppon Logistics | 2022 | $1.4B | Acquired leading Chinese freight delivery and less-than-truckload (LTL) carrier Deppon Logistics. |
| China Logistics Property Holdings (CNLP) | 2022 | Undisclosed | Acquired warehouse developer CNLP to secure prime logistics land and Grade-A distribution centers across major Chinese cities. |
| Yihaodian | 2016 | Undisclosed | Strategic expansion. |
2025
Tender offer for the German parent of MediaMarkt and Saturn to expand into European physical electronics retail.
Would give JD hundreds of stores across Europe; Germany approved with conditions, while EU and Austrian reviews were still pending in late September 2026.
Pending
2022
$1.4B
Acquired leading Chinese freight delivery and less-than-truckload (LTL) carrier Deppon Logistics.
Dramatically expanded JD Logistics' network capacity for bulky goods, home appliances, and heavy freight transportation across China.
Reinforced JD's position as China's premier integrated supply chain and logistics infrastructure operator.
2022
Acquired warehouse developer CNLP to secure prime logistics land and Grade-A distribution centers across major Chinese cities.
Added millions of square meters of modern warehouse space to JD's nationwide smart logistics link graph.
Lowered long-term fulfillment leasing expenses and provided superior order delivery speeds for JD.com e-commerce customers.
2016
Strategic expansion.
JD is pushing beyond online retail into instant commerce and food delivery (launched February 2025), offline electronics stores (26 JD MALL stores by end-2025), external logistics customers through JD Logistics and its LangzuTech automated warehouses (20+ sites in nearly 20 cities by end-2025), and Europe, where it replaced its Ochama brand with Joybuy in 2025, launched the Joybuy marketplace in the UK, Germany, France, the Netherlands, Belgium and Luxembourg on March 16, 2026, and agreed to buy Ceconomy.
JD.com earns money in four main ways. 1) Net product revenue (1P retail): JD buys electronics, home appliances, groceries and general merchandise from brands, stores them in its own warehouses and sells at a retail margin. This is the bulk of group revenue. 2) Marketplace and marketing services: third-party (3P) merchants pay commissions and buy advertising on JD's app. 3) Logistics services: JD Logistics sells warehousing, express, freight (including Deppon) and supply chain services to outside companies as well as to JD itself; its Q2 2026 revenue rose 24.3% year over year. 4) New businesses: JD Food Delivery, launched in 2025, plus international retail and other ventures, which are still loss-making (~$1.38 billion (RMB9.9 billion) operating loss in Q2 2026).
In March 2014, ahead of JD's NASDAQ IPO, Tencent acquired a 15% stake in JD.com and transferred its own e-commerce businesses (QQ Wanggou and Paipai) to JD, giving JD level-one mobile traffic access on WeChat and Mobile QQ.
In June 2016 JD took over Walmart's Chinese e-commerce site Yihaodian in exchange for about 5% of JD's shares. Walmart later raised its stake above 10%, then sold its entire holding in August 2024.
In 2022 JD Logistics bought a controlling stake in Deppon Logistics for about $1.4 billion, adding a large freight and less-than-truckload network for bulky goods and home appliances.
JD Property bought control of Hong Kong-listed China Logistics Property Holdings in 2022 to add warehouse and logistics park capacity in major Chinese transport hubs.
JD's largest pending deal is the roughly $2.49 billion (EUR2.2 billion) takeover of Ceconomy, owner of MediaMarkt and Saturn, which would give it a physical electronics retail network in Europe. As of late September 2026 it had conditional German approval and was awaiting EU and Austrian decisions.
Yes. JD made a 2025 tender offer for Ceconomy AG, the German parent of MediaMarkt and Saturn, valued at about $2.49 billion (EUR2.2 billion). The EU opened an in-depth Foreign Subsidies Regulation probe in May 2026; by late September 2026 the Commission was reported to be close to approving the deal with remedies, with a decision due by October 23.
To completely solidify their logistics monopoly, JD.com executes massive physical acquisitions. In 2021, they heavily invested to take a majority stake in Dada Nexus (China's leading local on-demand delivery platform). In 2022, JD Logistics executed a massive $1.4 billion acquisition of Deppon Logistics, deeply expanding their massive "less-than-truckload" (LTL) heavy freight capabilities.
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