Asda’s buyers will face same challenge that caused Walmart about-turn
World’s largest retailer begins retreat, selling majority stake to buyout firm TDR Capital and Issa brothers
04 October 2020 - 20:46
London — Walmart’s 1999 acquisition of Asda looked set to disrupt the UK supermarket business, with the US retailer using its deep pockets to shake up entrenched players such as Tesco and J Sainsbury.
The purchase never lived up to the hype. Asda struggled to defend its market share against bigger rivals and the German discounters Aldi and Lidl. On Friday, the world’s largest retailer began a retreat, selling a majority stake in Asda to buyout firm TDR Capital and the Issa brothers, who made their wealth in petrol stations...
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