Asda is one of the UK’s leading supermarkets, with over 500 stores across the country. It is owned by Walmart, the world’s largest retailer. Walmart acquired Asda in 1999 for £6.7 billion.
Asda is a popular choice for shoppers looking for low prices on a wide range of products. It offers a mix of own-brand and branded goods, and its George clothing range is particularly popular.
Walmart has sold Asda to the private equity firm Advent International for £6.8 billion. The sale will see Walmart retain a minority stake in the business.
The sale of Asda is part of Walmart’s wider strategy to focus on its core US market. The company has been divesting itself of non-core assets in recent years, including its UK grocery business, which it sold to Sainsbury’s in 2016.
Walmart said that it had received “several expressions of interest” in Asda, but that Advent International was the “right partner” to take the business forward.
The deal is subject to regulatory approval and is expected to complete in early 2020.
Why has Walmart sold Asda?
Walmart has sold Asda to the private equity firm Advent International for £6.
The sale of Asda is part of Walmart’s wider strategy to focus on its core US market.
Walmart said that it had received “several expressions of interest” in Asda, but that Advent International was the “right partner” to take the business forward.
The deal is subject to regulatory approval and is expected to complete in early 2020.
