Asda to take over Netto in UK

[Mathew]

http://news.bbc.co.uk/1/hi/business/10171193.stm

Supermarket giant Asda has announced plans to buy the UK stores of Danish discount retailer Netto for £778m.

Asda said that, pending approval from the Office of Fair Trading, it hoped to finalise the deal later in the summer.
Netto has 193 stores in the UK which will continue to trade under the Netto name for the time being but will come under the Asda brand by mid-2011.

Asda plans to integrate the stores into its new supermarkets division for shops smaller than 25,000 square feet.
Netto, currently owned by Dansk Supermarked, has operated in the UK since 1990.

"Customers will benefit from low prices on a significantly broader range of quality products, complemented by the wide range of services we offer in all our smaller stores," Asda chief executive Andy Clarke said.

Dansk Supermarked chief executive Erling Jensen said in a statement: "We have substantial opportunities for growth in Scandinavia and Northern Europe and believe that the time has come to focus our efforts on the development of our business in these countries."

Suppose that's the way to do it - just buy out the competition.

[triston220]

Although it is only a small competition. ASDA is the best supermarket imo.

[alexxxxx]

i don't even know what netto was.

[-:Undertaker:-]

I can see them changing the brand into ASDA Direct or some kind of small brand designed to compete with Tesco, say-goodbye-to-low-prices-and-stuff you-didnt-know-you-needed-but-now-you've-seen-it-you-must-buy-it.

[wiktoria]

There's a netto where i live, hate it because it always stinks in there....... some nettos are nice though. Idno why they're doing this though :S :S

[Sharon]

OMG THE NETTO JOKES WILL GO.

you live in netto in a cardboard box ;l

okay serious note:

I think it is a good deal, and I think Netto could have a good future with this.

[hah]

Isnt Netto real popular in spain? We dont have them here but i think i remember them from spain, they were everywere

[triston220]

i don't even know what netto was.

o.O msgtoshort


Edited by Cosmic (Forum Moderator) Please do not post pointlessly, thanks.

[alexxxxx]

just found out there isn't one in nottingham at all.

[Jordy]

just found out there isn't one in nottingham at all.

I think there's one in Mansfield if you're desperate.