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Asda Has Been Bought by Two Uk Billionaire Brothers

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Asda has been sold to two billionaires known as the Issa brothers from Blackburn .. Walmart will still have their stake but for less as it is now a British owned majority

The new owners are going to invest over £1bn within the next three years and they are keen to keep prices low

This means Asda is now back under British ownership since 1999 😍

This does however block the plan to merge Sainsbury and Asda together - remember that 🤔 I was wondering how that was going to work out

Nadiaparveen
22 days ago
What do you think of this?
PhilipMarc
PhilipMarc22 days ago

Well, ASDA isn't the U.K. Walmart anymore, then.

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Imnotcheap
Imnotcheap22 days ago

Asda is my preferred supermarket so will see how it goes but being British again is good

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Mango4
Mango422 days ago

Headlines as usual slightly misleading on this story the two brothers are part of a consortium along with a private equity firm .

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BonzoBanana
BonzoBanana22 days ago

I think walmart are clearing out of the UK as can foresee a huge downturn in spending in the UK so supermarkets will be fighting over less and less pounds available. I realise they still keep a minority stake. As incomes reduce pricing will be more critical and margins will be much less. We are leaving the EU with about 1.7 trillion in debt which took about 40 years to accumulate and now in a few months we have taken it over 2 trillion because of the pandemic. That means a huge amount of tax collected is just paying the interest on that debt.

Outside the EU we should be able to buy goods directly without EU tariffs etc so many food products sourced outside the EU could be substantially cheaper but then many products sourced from within the EU could be more expensive. I don't think personally I buy a lot of products that are EU sourced except for some from Ireland which supplies many meat and dairy products. Those could become more expensive but are easily sourced elsewhere. Obviously if you are a wine drinker or like other EU products then their could be a lot of food inflation for you but I think my food bill would likely reduce. Ultimately I think Asda like most supermarkets are going to find their sector a lot more competitive in the future but then I think Asda was sold at quite a low price, Walmart certainly haven't done well with Asda they have sold it for far less than they paid allowing for inflation over 20 years.

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Mick82
Mick8221 days ago

Glad to see Walmart leaving UK has anyone ever watched the documentary about how they treat there staff in the US horrible company

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BonzoBanana
BonzoBanana20 days ago

Also they are one of the most aggressive negotiators when buying goods from low wage economies. They use all sorts of tactics to get a lower price, they don't commit to long term partnership rather they play one factory against another on pricing to get a lower price. Walmart are all pushing prices lower and lower in order to increase their margin from suppliers in order to keep their retail prices low. Staff at walmart in the USA are treated like kings compared to staff in low cost clothes factories. Some staff are even forcibly locked in the factory so they cannot leave as the margins for the factories are so slim.

https://www.nytimes.com/2013/11/23/business/international/us-retailers-decline-to-aid-factory-victims-in-bangladesh.html

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Mick82
Mick8220 days ago

BonzoBanana think you said it all in share your feelings about them

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