Asda commits to cutting prices as it completes £2bn acquisition of EG Group’s UK business

  • 📰 The Yorkshire Post
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Asda Group has completed the acquisition of EG Group’s UK business for an enterprise value of £2.07bn, in a move which will accelerate its growth in the convenience sector.

Asda said the deal is a key part of its strategic plan to create a value-led convenience offering by rolling out Asda Express across EG UK’s 356 predominantly freehold sites, which include convenience stores on petrol filling stations .

The acquisition of EG Group’s UK business will create a group with expected combined revenues of nearly £28bn, serving some 21m customers every week. Lord Stuart Rose, chairman of Asda, said: “As families continue to face into cost-of-living challenges, bringing Asda’s long-standing value in groceries and fuel to even more communities is a win for UK consumers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 39. in BUSİNESS

Business Business Latest News, Business Business Headlines