Wed, 04 Aug 2010 | DIVISION SALE
Asda has put 30 of its recently acquired Netto stores on the market in order to satisfy the Office of Fair Trading’s rules.
The supermarket giant bought the British chain of 193 Netto stores from its Danish owner in May in a push to compete more effectively with the market leader Tesco, and to increase its numbers of smaller stores.
The Office of Fair Trading has now asked Asda to dispose of part of its Netto discount shop portfolio. WM Morrison is thought to be interested in purchasing some of the outlets for sale, as the company has also recently adopted a strategy to operate some smaller stores.
Asda paid £778 million for the 193 shops - the equivalent of £4 million per store.
The deal was the first undertaken by Asda since it was taken over by Walmart in 1999, after having been linked with other potential acquisitions including Argos, Matalan and Woolworths, according to reports.
Part of the Dansk Supermarked group, West Yorkshire-based Netto has had a presence in Britain for about 30 years. Unlike its competitors discount stores Aldi and Lldl, Netto did not profit from customers’ tighter purse strings in the depth of the recession.
A concept which led to revolutionizing the restaurant industry, offering an efficient and profitable approach to food production and targeted marketing.
Their versatile offerings include custom rafted joinery products such as elegant doorsets, stylish TV and media units, functional desks, ingenious shelving and storage solutions, luxurious bed surrounds, stunning timber staircases, sophisticated engi...
As a specialist in Italian Motorcycle Parts and Accessories supplies, the business has developed expertise in sourcing and offering a comprehensive range of high-quality products.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.