Walmart, the world’s largest retailer, first announced its intention to buy Asda – then Britain’s third largest supermarket chain – in 1999. The deal was finally completed in 2002, and Walmart owned Asda until 2018, when it sold a majority stake to UK-based private equity firm Equitix.
Walmart’s ownership of Asda was not without controversy. Walmart is notorious for its aggressive cost-cutting measures, and many feared that these would be applied to Asda, leading to job losses and lower quality products.
Walmart did indeed implement a number of changes at Asda, including the introduction of its ‘Everyday Low Prices’ strategy, which resulted in lower prices for customers but also put pressure on suppliers. There were also concerns about the way Walmart treated its employees, with reports of low pay and poor working conditions.
Walmart’s ownership of Asda came to an end in 2018, when it sold a majority stake in the company to UK-based private equity firm Equitix. This ended Walmart’s 17-year involvement with Asda, during which time it transformed the company from a traditional supermarket chain into a discount retailer.
When did Walmart own Asda?
Walmart first announced its intention to buy Asda in 1999 and the deal was finally completed in 2002. Walmart owned Asda until 2018 when it sold a majority stake to UK-based private equity firm Equitix.
