Sainsbury’s and Asda have finally completed their much-anticipated merger, creating a new supermarket giant. The new company, which will be called Sainsbury’s Asda, will have more than 3,500 stores across the UK and a combined market share of 31.4%.
The deal was first announced in April 2018 and has taken almost a year and a half to complete. It has been cleared by the Competition and Markets Authority (CMA) after an in-depth investigation.
The CMA found that the merger would lead to “lower prices, more innovation and greater choice” for shoppers. It also found that the deal would not result in a “substantial lessening of competition” in any local area.
Sainsbury’s chief executive Mike Coupe, who will lead the new company, said: “This is a transformational moment for our business and one that will create Britain’s leading food retailer with significant scale and reach.”
Asda’s chief executive Roger Burnley added: “We are bringing together two great businesses to create even more value for our customers.”
The new company will have more than 3,500 stores across the UK and a combined market share of 31.
Sainsbury’s and Asda have finally completed their much-anticipated merger, creating a new supermarket giant. The new company, which will be called Sainsbury’s Asda, will have more than 3,500 stores across the UK and a combined market share of 31.4%.
The deal was first announced in April 2018 and has taken almost a year and a half to complete.
The CMA found that the merger would lead to “lower prices, more innovation and greater choice” for shoppers.
Sainsbury’s chief executive Mike Coupe, who will lead the new company, said: “This is a transformational moment for our business and one that will create Britain’s leading food retailer with significant scale and reach.”
Asda’s chief executive Roger Burnley added: “We are bringing together two great businesses to create even more value for our customers.”
