Asda responds to CMA’s Phase 1 decision
Asda has today responded to the anticipated decision by the Competition and Markets Authority (CMA) to begin a Phase 1 investigation into its acquisition of 132 grocery retail sites, with attached petrol stations, from The Co-op.
A spokesperson for Asda said: “The acquisition of these sites is part of our long-term strategy to build a convenience business and bring Asda’s great value in fuel and groceries to more customers and communities throughout the UK. We referred the acquisition to the CMA when it completed last October and look forward to working collaboratively with them in the coming months.”
The acquisition includes 129 convenience stores of between 1,500 and 3,000 square feet, with attached petrol stations, and three development sites. Circa 2,300 colleagues currently employed by the Co-op will join Asda under TUPE transfer in the coming months following consultation with USDAW.
While the acquisition formally completed last October and Asda owns the 132 sites, the deal remains subject to regulatory approval from the CMA.