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[poikka] 02/10/2020 10:25

"Two billionaire brothers from Blackburn have won the battle to buy Asda from Walmart of the US, in a deal valuing the supermarket chain at £6.8bn.

A consortium of Zuber and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda.

It means the grocer will return to majority UK ownership for the first time in two decades.

The Issa brothers own EG Group, which has more than 5,200 petrol stations across the UK and Europe.

The auction process for Asda has lasted for several months. Walmart decided to sell a controlling stake in Asda after shelving plans to float the business following a failed £7.3bn merger with Sainsbury's which was blocked on competition grounds.

Walmart bought Asda in 1999 for £6.7bn."

[poikka] 02/10/2020 10:24

Oh 'ello, Walmart's flogged Asda.

[loganair] 01/10/2020 18:08

After a long and drawn out process, it appears that Asda is to be taken over by private equity firm TDR Capital in conjunction with the Lancashire-based Issa brothers.

Analysts at Shore Capital said that if this happens, it will be a remarkable case of “immense ambition, courage and entrepreneurshipR21; on behalf of the siblings behind the now global Euro-Garages business.

Veteran Shore Capital retail analyst, Clive Black, said the Issa brothers will bring retail experience and business acumen to Asda.

While Asda’s sales have increased during the Covid-19 pandemic, the chain has lagged market leader Tesco, Sainsbury’s and fourth player, Bradford-based Morrisons.

In the latest Kantar data, covering the 12 weeks to September 6, it emerged that Asda underperformed again against its big four rivals.

[netcurtains] 30/9/2020 07:42

Grocers up this morning.

[netcurtains] 29/9/2020 07:58

buywell3: FTSE ahead of USA stocks - LOL - have you done a 2020 comparison - we need to go up solidly for months just to catch up...
There will be no lockdown unless French introduce one first. This is not going to happen.

[buywell3] 29/9/2020 07:52

UK FTSE 100 got ahead of itself looking at USA markets

IMO that is

Reality is now about to bite

FTSE to 5000 when boris announces 2 weeks lockdown as cases keep

[rolo7] 28/9/2020 18:54

Interim results in November

[spob] 28/9/2020 16:48

Sainsburys accounts should be interesting next year


given the 450 million pound business rates relief this year

can't see how they have managed to spend that £450m to be honest

just my opinion though

[spob] 28/9/2020 16:43

When can Sainsbury's merge with the administrators

Lol

[loganair] 28/9/2020 13:21

BerkshireLive decided on Monday morning (September 28) to attempt to buy the country's once most sought-after commodity from the big supermarkets to see if the UK was returning to those dark days.

Tesco:

Of all the 'big four' supermarkets, it was here at Tesco where we encountered our biggest problem. Of the 27 toilet roll products listed on the website, 17 were unavailable - that's 62 per cent.

Only the nine and four roll packs were showing as being available, with the largest packs seemingly being out of stock.

A notable amount of dried pasta products were listed out of stock, too. All but one fusilli product was unavailable, with supplies of spaghetti, conchiglie, penne, farfalle, and tagliatelle apparently low.



Morrisons:

Just four toilet roll products were out of stock on Morrisons' website. Four dried pasta products were also unavailable.

There are seven antibacterial wipe products on the website, of which three were out of stock. And 11 baby wipe products were also listed as unavailable.



Sainsbury's:

Not one toilet roll product was out of stock on Sainsbury's website. All pasta goods, flour, and antibacterial wipes were also available.

[loganair] 28/9/2020 13:14

Aldi, today, said it intended to create a further 4,000 new UK jobs next year, adding to the 3,000 permanent roles added in 2020.

The value grocer also pledged to invest £1.3bn by 2021 with new and upgraded stores, distribution centres and further innovations across its business.

The plan is to open 100 new sites in line with a long-term target of 1,200 stores by 2025, alongside over 100 store upgrades under its ‘Project Fresh’ initiative.

The German discounter saw sales in the UK and Ireland rise by 8% to £12bn in the last financial year.

[loganair] 28/9/2020 13:12

Acquiring Asda would represent a major coup for the brothers, who have built EG from a single petrol station in Bury in 2001 to over 5,900 sites in the UK, Europe and the US.

TDR Capital, best known for the acquisition of we-buy-any-car owner BCA Marketplace in November last year, bought into EG in 2016 when it merged its European Forecourt Retail Group with the Issa’s Euro Garages.

Walmart is said to be keen to retain a minority stake in Asda once a deal completes and according to the reports is looking for an option that can grow the business again and fend off competition for the likes of no-frills group Aldi and Lidl and online competitors such as Ocado.

[loganair] 28/9/2020 13:06

Walmart Inc has selected Issa brothers the founders of UK petrol station operator EG Group and private equity firm TDR Capital as the preferred bidders for its Asda supermarket chain, valued at 6.5 billion pounds ($8.39 billion).

The sale of a controlling stake in Asda would see Walmart return to majority British ownership for the first time since 1999.

Walmart's decision to select the Issas' bid will confound expectations that it was likely to pursue a deal with Apollo Global Management, the buyout firm which has been working with Rob Templeman, the former boss of Debenhams.

Lone Star Funds, another private equity firm, had been working with former Asda executive Paul Mason, but pulled out of the auction last week.

Based in their hometown of Blackburn, the Issa brothers founded Euro Garages in 2001 with the acquisition of a single petrol filling station in Bury.

Under their stewardship, Euro Garages has established itself as one of the UK’s fastest growing petrol station operators, with an expanding portfolio of around 5,000 sites and 44,000 staff across the UK, Europe, USA and Australia.

In March 2020, EG became KFC's largest franchisee in Europe through the acquisition of 145 KFC outlets in the UK and Ireland.

[dexdringle] 23/9/2020 12:00

...I thought Sainsburys had already merged with MFI ?

I bought a chicken the other day and the leg fell off.......

[mercer95] 23/9/2020 11:40

As long as they don’t merge with centrica I’m happy 😃

[georgeo1] 23/9/2020 11:34

When can Sainsburys merge with Asda again we'll try too anyway.

[mercer95] 22/9/2020 14:34

Nice move up for Sainsburys, looks like the comparison with Royal Mail isn’t far off the mark, I’m gonna keep on holding GLA

[mercer95] 19/9/2020 18:11

I don’t think you’re mad netcurtains ,the complete opposite actually, you seem well informed & I do understand your point of view,such a complex situation regarding the pandemic,who’s to say what is the right or wrong way to deal with it, the important thing is just surviving it 👍

[loganair] 19/9/2020 16:00

'Asda On the Move' - Asda plans to enter the fast-growing convenience stores.

Asda’s new convenience offer branded “Asda On the Move” will initially be trialled at EG Group fuel station forecourts in Ashby, Leamore and Primley in central England.

A partnership with EG Group also makes a lot of sense. Asda is one of the UK's largest fuel retailers but has not used its retail expertise to build up a network of standalone forecourt convenience stores.

[loganair] 19/9/2020 15:58

Asda said it would collaborate with home improvement group Kingfisher, trialing four "shop within a shop" compact B&Q stores within Asda superstores.

A collaboration with the UK's leading home improvement retailer will see compact B&Q stores installed in four Asda superstores providing customers with access to a large number of products, as well as easy online access to B&Q’s full range for home delivery or click & collect.

These trials demonstrate imaginative responses to the challenges Asda faces. A tie-up with B&Q could be very positive for Asda; no other Big Four retailer has a tie-up with a DIY specialist and grocers' own DIY ranges even in the largest stores are typically very limited. The announcement comes on the day the ONS reports that home improvement retail sales have grown strongly in August as shoppers have used the summer to catch up on home maintenance tasks and to make their homes easier to work in. B&Q has for several years been experimenting with smaller format stores as like Asda, it has faced a growing challenge from declining footfall to its large out-of-town stores so will be keen for the trial to succeed. Both retailers also share a similar demographic of young family shoppers.

[netcurtains] 19/9/2020 15:52

Mercer95: Before you think I'm mad look at stats for Belgium and Holland they are very similar...Guess which one does not wear masks?

I did ask in pub last night - most people wore same disposable one for a week. If they had washable one could be 2 or 3 weeks between washing - typical pub crowd. Husbands and wifes (and family members) often share masks if one forgets. The world is not you - remember the world is made up of all sorts.

I think you'll remember right from the beginning of the debate the evidence for masks was very weak and they decided to go for it "just in case it helped a tiny bit"... Anyway early days. Lets see how it goes.

I certainly hate them and and have more respiratory issues wearing it then not wearing it - especially for long trips on the tube.

[mercer95] 19/9/2020 15:43

You’ve got to be bonkers to share a mask & the majority of masks are non washable & I wouldn’t believe a word that comes out of Saudi Arabia so I’ll carry on wearing my mask 😷

[netcurtains] 18/9/2020 16:52

dexdringle: about masks...
You're probably right - what all those clever doctors forgot to factor in with all their "mask droplet tests" are pretty basic things like:
a) how many people share masks when they forget their one (answer loads).
b) how many people dont wash them for days (even weeks) (answer loads).
c) stats from previous medical trial from saudi showing veil wearers had higher (not lower) incidence or respiratory problems then none wearers .


My gut feeling the important points are social distance and hand washing - the mask thing is making things worse not better - anyway that is my three pence worth.