Asda has confirmed that the Office of Fair Trading will not refer its acquisition of Netto’s UK operations to the Competition Commission.
The announcement came today (9 March) as the retailer said it plans to add a further 21 stores – some 550,000 square feet – to its network this year – beyond the 147 outlets and 1.2m square feet added through the Netto acquisition.
Go deeper with GlobalData
The retailer said the 168 new stores to be added this year would make this the “largest single year of growth in its history”.
Beyond the 147 Netto outlets, which average 8,000 sq ft in size, the new stores will include seven Asda Superstores, four Asda Living outlets, 10 Asda superstores and plans to extend five existing Asda premises.
As part of the plans, Asda entered into an agreement last week to acquire six stores from Focus DIY, which will be converted into Asda Supermarkets, pending planning consents.
As part of the OFT’s approval of the Netto deal, Asda must sell off some 47 outlets, with the retailer announcing in January that it has already sold some 39 of the outlets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe first converted Netto stores – in Worksop, Wakefield and Stainforth, will open in May.
