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.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.