Asda

From Wikispooks
Jump to navigation Jump to search

Group.png Asda  
(Supermarket, CorporationTwitter WebsiteRdf-entity.pngRdf-icon.png
Asda logo.png
Formation1949
Founder• Peter Asquith
• Fred Asquith
• Sir Noel Stockdale
HeadquartersLeeds, England, UK
Typeretail
OwnersIssa brothers

Asda is the third largest supermarket chain in the United Kingdom.

In February 2021, like other British supermarkets; Sainsbury's and Morrisons, Asda became victim of a hostile takeover by a private-equity firm. It has since become a victim of asset stripping.

History

Founded in 1949.

On 26 July 1999, Walmart took over Asda. A move supported by then Prime Minister Tony Blair.[1]

In February 2021, EG Group and TDR Capital acquired Asda. Walmart still retains "an equity investment" in Asda, a seat on the board and "an ongoing commercial relationship".[2] The takeover came after an acquisition by Sainsbury's was rejected by the Competition and Markets Authority.[3]

In June 2021, the Issa brothers announced that they would be selling off Asda distribution centres for £1.7bn.[4]



References