Asda bags Netto in a £778m deal
SUPERMARKET giant Asda has announced a £778million deal to buy the Netto chain.
Asda, owned by US group Walmart, plans to take over Netto’s 193 UK shops and change all its signs and logos by next summer.
The extra stores will form a chain of smaller Asda supermarkets with the focus on improving its stake in the food market, after last week revealing its first fall in sales for four years.
Asda, which has 374 branches, plans to double staff numbers in Netto stores which will continue as normal until the deal is given the go-ahead by the Office of Fair Trading.
Danish-owned Netto opened in the UK in 1990 and employs 3,500 staff.
