Asda Eyes Up UK Expansion

September 29, 2010 10:05 AM By square1

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Wal-Mart's acquisition of of 288 Massmart stores in South Africa, Ghana, Nigeria and Tanzania, has led to speculation that the giant retailer will step up its efforts on behalf of its Asda banner to buy its way back to growth in the UK.

The Massmart deal was completed by former Asda chief executive Andy Bond, who is currently serving as Asda's part-time chairman and remains Wal-Mart's executive vice-president with responsibility for Britain and Africa. Bond commented on the deal saying that South Africa represented a "compelling growth opportunity for Wal-Mart and offers a platform for growth and expansion in other African countries."All eyes will now refocus on Asda's future plans in the UK, where its market share has remained flat at around 17% for the past five years. It signaled its intent on expansion in the UK with the purchase of 194 Netto stores earlier this year, it has to sell 47 of them to satisfy competition regulations, and speculation is now rife that it is lining up a move for the Home Retail Group, owner of the Argos and Homebase chain of stores. (Sept 29)

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