Out with the old, in with the Issas: Asda execs quit as supermarket plots 230 petrol station stores September 3, 2021 In the first full quarter trading update since billionaire brothers Mohsin and Zuber Issa bought Asda for £6.8bn last year, the supermarket chain announced two more top executives were leaving, as it ramps up its petrol convenience store business. The UK’s third-largest supermarket today announced that both chief operating officer Anthony Hemmerdinger and chief strategy [...]
CEO Roger Burnley exits Asda early after £6.8bn acquisition August 6, 2021 Asda has today announced that CEO Roger Burnley has left the company in the midst of its transition to new ownership. Burnley is leaving just months after the UK’s third biggest supermarket group was purchased by the billionaire Issa brothers and the private equity group TDR Capital for £6.8bn. In the process the Issa brothers [...]
Supermarkets urge shoppers to keep masks on after 19 July July 15, 2021 Supermarkets are urging customers to continue wearing masks even after 19 July, when they will no longer be a legal requirement in England. Prime Minister Boris Johnson has announced that from Monday 19 July, dubbed ‘Freedom Day’, almost all pandemic restrictions will be lifted including the legal requirement to wear masks. Instead the public will [...]
Asda adopts permanent hybrid working for office staff July 2, 2021 Staff at Asda head offices will be able to choose where they work on a permanent basis even Covid restrictions are eased and working from home guidance is dropped. The change means around 4,000 staff, most of whom are based in Leeds, will be able to work more flexibly on a permanent basis. Asda said [...]
CMA clears Issa brothers’ Asda takeover after accepting petrol station sale June 16, 2021 The UK’s competition authority has today cleared the way for the Issa brothers’ £6.8bn takeover of supermarket Asda after accepting their offer to sell off 27 petrol stations. The Competition and Markets Authority (CMA) had launched a probe into the deal in April due to fears that acquisition could increase petrol prices for motorists. The [...]
Domestic M&A retreats in first quarter after dealmaking wave at the end of 2020 June 8, 2021 Domestic UK M&A fell in the first quarter of 2021 after a flurry of dealmaking towards the end of 2020. During the first quarter, domestic M&A – where UK companies acquire other UK companies – was worth £3.8bn, a decrease of £5.3bn from the previous quarter last year, according to figures published by the Office [...]
Amazon to dethrone both Tesco and Sainsbury as UK’s largest retailers within four years June 3, 2021 Amazon is to overtake Tesco as the UK’s largest retailer within the next four years, with sales expected to hit more than £77bn by 2025, according to new research, shared exclusively with City A.M. this morning. Last year, Amazon UK’s total sales were £36.3bn while Tesco’s sales were almost double at £64bn. However, by 2025, [...]
Asda trials delivering food orders while customers are out in bid to sustain online shopping momentum May 7, 2021 Asda is trialling delivering unattended food orders, allowing drivers to drop off customers’ shopping when no one is home. The trial allows shopping to be delivered within a four-hour window when the customer is out by dropping it into boxes fixed outside the shopper’s home. It comes as supermarkets aim to sustain the momentum in [...]
Issa brothers offer to sell 27 petrol stations to resolve Asda takeover competition dispute May 5, 2021 The Issa brothers, the billionaire businessmen who recently bought Asda, have agreed to sell 27 of their EG Group petrol stations to resolve a competition dispute related to the takeover. Last month the Competition and Markets Authority launched an investigation into the Issa brothers and TDR Capital’s takeover of the supermarket, saying the deal raises [...]
Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]