A merged Sainsbury’s and Asda would pose a powerful joint challenge to Tesco. But the deal raises serious competition concerns. Alex Rankine reports.
SAINSBURY (J) PLC Share Price [ SBRY ]
Sainsbury’s (LON:SBRY) is currently the UK’s second-largest chain of supermarkets. It was founded by John and Mary Sainsbury, when they opened their first shop in Drury Lane, London, in 1869.
It now operates over 1,200 shops – half of which are smaller ‘convenience’ stores – and employs 161,000 people.
As well as selling groceries, it branched out into banking in 1997, opening Sainsbury’s bank in partnership with Bank of Scotland. In 2014, it became a wholly owned subsidiary of Sainsbury’s.
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What the merger between Sainsbury’s and Asda means for you
Sainsbury’s and Asda have decided to merge. John Stepek looks what it means for the troubled UK supermarket sector and asks: is it a good deal?
