In 1999, Walmart acquired Asda, a UK-based supermarket chain, for $10.8 billion. As of 2016, Asda is the second largest supermarket chain in the UK with a market share of 16.4%.
The acquisition of Asda helped Walmart to enter the UK market and expand its international reach. The move was also seen as a way for Walmart to counter the growing threat of online retailers such as Amazon.com. Asda has since been integrated into Walmart’s international operations and has been a key contributor to the company’s growth.
In recent years, however, Asda has struggled to compete with the likes of Tesco and Sainsbury’s. In 2015, Walmart announced plans to sell a majority stake in Asda to rival supermarket chain Sainsbury’s. The deal was later scrapped due to regulatory concerns.
Asda remains an important part of Walmart’s global business, but it faces challenges in its home market. Whether or not Walmart will be able to turn around Asda’s fortunes remains to be seen.
Did Walmart acquire Asda?
Yes, Walmart acquired Asda in 1999 for $10.
