30 April 2018
A merger has been proposed between supermarket chains Sainsbury's and Asda that will include Asda's in-house opticians.
Terms have been agreed to create a combined business that will maintain the Sainsbury's and Asda brands.
Asda owners, Walmart, will hold a 42% stake in the combined business and receive £2.97bn cash, which values Asda at £7.3bn.
In a statement, president and CEO of Asda, Roger Burnley, said: "Asda will continue to be Asda, but by coming together with Sainsbury's, supported by Walmart, we can further accelerate our existing strategy and make our offer even more compelling and competitive."
No store closures are planned and Sainsbury's said that it hopes to create a greater choice for customers.
Sainsbury’s has 10 Specsavers practices within its supermarkets. UK managing director of Specsavers, Paul Marshall, told OT that the multiple is delighted with the success of its collaboration with Sainsbury's and is looking forward to continuing its relationship.
“We have plans to open a significant number of additional sites in the year ahead,” he explained.
Terms have been agreed to create a combined business that will maintain the Sainsbury's and Asda brands.
Asda owners, Walmart, will hold a 42% stake in the combined business and receive £2.97bn cash, which values Asda at £7.3bn.
In a statement, president and CEO of Asda, Roger Burnley, said: "Asda will continue to be Asda, but by coming together with Sainsbury's, supported by Walmart, we can further accelerate our existing strategy and make our offer even more compelling and competitive."
No store closures are planned and Sainsbury's said that it hopes to create a greater choice for customers.
Sainsbury’s has 10 Specsavers practices within its supermarkets. UK managing director of Specsavers, Paul Marshall, told OT that the multiple is delighted with the success of its collaboration with Sainsbury's and is looking forward to continuing its relationship.
“We have plans to open a significant number of additional sites in the year ahead,” he explained.
Comments (1)
You must be logged in to join the discussion. Log in
Anonymous01 May 2018
Am pretty sure that Speccies will acquire Asda Opticians-shouldn't be too difficult as Asda stores are already 'green-ish'.
Report Like 224