Wal-Mart’s UK subsidiary Asda is planning a major assault on the Irish market, according to the Sunday Business Post newspaper.
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The Sunday Business Post has learned that Asda…recently made a tentative approach to an Irish chain about buying it out, the paper said. The approach to the supermarket chain came in the past three weeks but was rejected. The group did not make a monetary offer, but said it was willing to enter into negotiations to buy the chain.
Asda has contacted several Irish logistics firms about providing back-up services. It is understood that Asda is keen to enter the Irish market by purchasing one or more medium-sized groups and then expanding organically. Last week, it was reported that Asda was close to finalising a deal with retailer Morrisons to buy its 13 Safeway stores in the North. In addition to the tentative approach, the group has also been in touch with a small number of Irish services companies about future alliances.
A spokesman for Asda declined to comment.
“They seemed to be sounding us out,” said a company director. “They were asking questions about the Irish market and so on. It was quite informal, but they seemed quite keen to get moving.”
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