Chinese delivery platform Meituan said today it plans to acquire the China operations of fresh grocery e-commerce firm Dingdong Maicai for an initial consideration of $717 million, as it seeks to deepen its presence in the fast-growing instant retail market. The deal covers 100% equity of Dingdong’s China business and excludes its overseas operations, according to a company filing. The target group is required to retain at least $150 million in net cash under the agreement.
Dingdong, which is listed on the New York Stock Exchange, reported revenue of about 66.6 billion yuan ($9.6 billion) in the third quarter of 2025 and has posted profits for seven consecutive quarters. The company operates more than 1,000 front warehouses and has around seven million monthly active users in the country. [Technode Reporting]
Related
