Carlos Criado-Perez, CEO of UK supermarket chain Safeway, has said that the company will probably look to acquire new stores once the current recovery strategy has been implemented.

Criado-Perez also confirmed that Safeway would remain independent, despite recent speculation that Wal-Mart subsidiary Asda might be interested in a takeover.

Safeway is the UK’s fourth-largest supermarket chain and for the moment Criado-Perez said the company is happy as such.

Criado-Perez also said he is convinced that the company’s current store reinvigoration will be a success, reported Dow Jones.