Asda was formed in 1965 following the merger of Asquiths and Associated Dairies, and has established itself as one of the UK’s biggest supermarket players. The grocer is renowned for its focus on low prices and extensive product assortment, operating mainly from large out-of-town supermarkets and hypermarkets across the UK. Asda’s value proposition has come under threat from the rapid rise of discount duo Aldi and Lidl, but the retailer is increasingly seeking to narrow the price gap to retain its relevance among an increasingly savvy consumer base and maintain market share. As well as its core grocery business, Asda also operates the George clothing label, which launched in 1989, and George Home, which followed in 2014.
EG Group and TDR Capital have moved into pole position in the race to buy Asda.
The Walmart board convened last week to decide on its preferred bidder in the Asda takeover deal.
US private equity firm Lone Star has reportedly dropped out of the bidding war to purchase Asda, leaving asset manager Apollo as the leading suitor.
A sale of Asda could be agreed later this week by parent company Walmart, it is understood.
Asda is to test a new convenience store format and launch B&Q shop-in-shops inside four of its largest superstores.
Advertisement
