Asda has today responded to the anticipated findings of the Competition and Markets Authority's (CMA) Phase 1 investigation into its acquisition of 132 grocery retail sites, with attached petrol stations, from The Co-op.
Mohsin Issa, co-owner of Asda said: “We note the findings of the CMA’s Phase 1 inquiry into our acquisition of 132 Co-op stores and their identification of 13 potential areas of competition concern. We look forward to working constructively with the CMA over the coming days as we consider their findings. We remain committed to 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.
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.