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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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?