As the world’s largest retailer, Walmart’s tentacles are far-reaching. The company not only has physical stores in 27 countries, but also owns e-commerce sites like Jet.com, Modcloth, and Bonobos. So, it’s no surprise that people are wondering if Walmart owns other major retailers, like Asda and Tesco.
The short answer is no, Walmart does not own Asda or Tesco. However, the two companies have a complicated history. In 1999, Walmart purchased Asda for $10 billion.
At the time, Asda was the second-largest grocery store in the United Kingdom (Tesco was number one). But in 2005, Walmart sold Asda to two private equity firms for $8.8 billion. So while Walmart once owned Asda, it no longer has a stake in the company.
As for Tesco, Walmart tried to purchase the company back in 1995 for $20 billion. But the deal fell through and Tesco remains an independent retailer (although it is now the third-largest grocery store chain in the world).
So there you have it: as of right now, Walmart does not own either Asda or Tesco (although it did at one point).
Conclusion:
No, Walmart does not currently own either Asda or Tesco. However, they did own Asda at one point before selling it to private equity firms in 2005.
