Regional Business Information for Yorkshire
Asda buys Netto for £778m
28th May 2010
By David Parkin - Managing Director
YORKSHIRE supermarket chain Asda has announced a deal to buy discount grocery group Netto.
The deal is worth £778m and will see the Leeds-based group, which is owned by US giant Wal-Mart, convert the 193 Netto stores in the UK to small Asda stores by next summer.
It has bought the UK Netto Foodstores operation from Danish group Dansk Supermarked and the move comes after it appointed Andy Clarke as chief executive and signalled its intention to move into the small grocery store sector to compete with Tesco ......for the full story register now for free or login below...
Having had a Netto built opposite my house last year I really hope Asda are better neighbours. Is it really necessary to steam clean the pavement at 7 in the morning? No. And why, a year on, are there 20 planning conditions still outstanding?
Richard Hamer