China’s food delivery giant Meituan said on Thursday that it had agreed to acquire Dingdong, a leading on-demand commerce platform in China specialising in fresh groceries.
Meituan would purchase all issued shares of Dingdong Fresh Holding, which is wholly owned by New York-listed Dingdong (Cayman) Limited, for an initial consideration of US$717 million, subject to adjustments, according to a filing with the Hong Kong stock exchange.
The deal is subject to conditions including antitrust clearance in China and completion of the required filing with the National Development and Reform Commission.
Meituan said grocery retail remained a strategic priority and that the acquisition was in line with its long-term development plans in the segment.
As of September 2025, Dingdong operated more than 1,000 front-end warehouses across China and had over 7 million monthly transacting users.
The transaction is expected to combine the two companies’ strengths in products, technology and operations, with the aim of improving the consumer shopping and delivery experience.
