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Alibaba Group (HK:9988) has reportedly made a bid of approximately $1.5 billion to acquire Chinese grocery delivery platform Pupu, according to a Bloomberg News report published Friday. Citing sources familiar with the matter, the report said Alibaba's offer significantly exceeds a competing proposal from Sun Art Retail (HK:6808), which was valued at around $600 million.
The potential acquisition highlights Alibaba’s ongoing efforts to strengthen its position in China’s highly competitive online grocery and local commerce sector. The company continues to face intense competition from major rivals including Meituan (HK:3690) and JD.com (HK:9618), both of which have been aggressively expanding their grocery delivery and e-commerce operations.
If completed, the deal would represent another strategic move by Alibaba to expand its reach in the fast-growing grocery delivery market. Industry competition has intensified as consumers increasingly rely on rapid delivery services for everyday purchases, creating significant opportunities for leading technology and e-commerce companies.
Bloomberg reported that Sun Art Retail, formerly affiliated with Alibaba and now backed by private equity firm DCP Capital, had previously submitted an offer of approximately $600 million for Pupu. Alibaba’s substantially higher bid underscores the strategic importance of the grocery delivery platform within China’s digital retail landscape.
The report also noted that the proposed acquisition comes shortly after Meituan agreed to acquire grocery platform Dingdong Fresh Holding in a transaction valued at roughly $717 million. The deal reflects broader consolidation trends within China’s online grocery and local delivery industry as companies seek to increase scale and market share.
Headquartered in Fujian province, Pupu has emerged as a major player in China’s grocery delivery market. The company reportedly generates annual revenue exceeding 30 billion yuan (about $4.2 billion) and operates an extensive 30-minute grocery delivery network across multiple provinces.
With strong revenue growth and a well-established logistics infrastructure, Pupu has become an attractive acquisition target for companies looking to strengthen their presence in China’s rapidly evolving e-commerce and grocery delivery sectors.
