Wal-Mart's ASDA to buy Danish-owned Netto grocery for $1.1B
ASDA, the U.K.'s second-largest supermarket chain and a division of Wal-Mart, is purchasing discount market Netto, which operates 193 stores. The move should net ASDA $760 million, or 4.6 billion Danish kroner, according to Dansk Supermarked A/S. The acquisition would also be advantageous for expansion into North America and Scandinavia.
ASDA has been a vocal participant in the price wars between the U.K.'s "Big Four" grocers, of which Tesco is the most prominent. Earlier this month the chain embarked on an online price-matching crusade.
Pending approval, ASDA would integrate the Netto stores into shops smaller than 25,000 square feet.