Walmart Selling Asda To Sainsbury's, Will Hold 42% Stake In Merged Company

02 May, 2018, 02:04 | Author: Billie Castillo
  • Sainsbury’s

"The most aggressive response by Morrisons would be a bid for Sainsbury's", Jefferies analyst James Grzinic said.

Sainsbury's also stated that it does not plan to close down any of its and Asda stores.

Tesco's sales have grown by 2% for the 12th financial period in a row, but growth at the soon-to-combine retailers has slowed.Sainsbury's sales edged up 0.2% over the past 12 weeks, while Asda's rose by 1.4 per cent.

However, the merger would have to be approved by the Competition and Markets Authority (CMA).

Following the merger, Sainsbury's will operate several e-Commerce sites and more than 2,800 stores under banners including Sainsbury's, Asda and Argos, generating a combined 47 million transactions weekly.

In addition, he pointed to Walmart's buying power.

"Asda will continue to be Asda, but by coming together with Sainsbury's, supported by Walmart, we can further accelerate our existing strategy and make our offer even more compelling and competitive".

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But with fears raised over thousands of jobs amid potential store disposals being ordered by the deals watchdog the Competitions and Markets Authority (CMA) we asked experts what we might expect to see.

"The CMA has looked at the local level in the past. However, city-dwellers tend to choose Sainsbury's over Asda, 45 per cent of Sainsbury's sales were clocked up in greater Belfast, while nearly a third of sales at Asda came from this area".

The two supermarket groups source between £250 million to £300 million from suppliers and producers in the North and South each year.

Sainsbury's is to buy Walmart's Asda for around 7.3 billion pounds in a bold attempt to overtake long-time leader Tesco as Britain's biggest supermarket group by market share.

"It will bring a renewed focus on price". Asda (when they took over the Morrisons store portfolio in Northern Ireland) was also keen to expand.

Both Sainsbury's and Asda should be considered acquisition targets. "Is Sainsbury's takeover of ASDA about people - workers and shoppers - or just more £££ for its boss?" Meanwhile, Sainsbury's premium own-label line "Taste the Difference" clocked up sales of £832m annually - almost two and a half times the size of Asda's "Extra Special" range.

The move was not a surprise given Asda's lackluster growth in recent years amid strong competition from Aldi, Lidl and Tesco.


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