Asda is a British supermarket chain owned by the American retail giant Walmart. It is the second largest supermarket chain in the UK after Tesco. As of 2018, Walmart owned 62.5% of Asda.
Asda was founded in 1949 by a group of farmers from Yorkshire, England. The name “Asda” is an acronym for “Asquith, Dairies, and Associated Stores.”
The company was originally a dairy cooperative, but it soon expanded into selling other groceries as well. In 1965, Asda opened its first store outside of Yorkshire in the town of West Bromwich.
In 1979, Asda was acquired by the British retail conglomerate Associated Dairies. Ten years later, Associated Dairies merged with J Sainsbury plc, creating the UK’s largest supermarket chain.
However, this merger was later deemed anticompetitive by the British government and was forced to be undone. As a result, Asda was once again a standalone company.
In 1999, Asda was acquired by Walmart for $10 billion. This made Walmart the largest shareholder in Asda with a controlling stake of 60%. Since then, Walmart has gradually increased its ownership stake in Asda to its current level of 62.5%.
The majority ownership stake that Walmart has in Asda has led to some criticism from those who believe that Walmart is trying to take over the UK market. However, both companies have denied these claims and insist that they are committed to keeping Asda as a separate and independent company.
What percentage of Asda does Walmart own?
Walmart owns 62.5% of Asda
