ASDA battles back with $1.13 billion acquisition of Netto

ASDA Group, a UK supermarket chain owned by Wal-Mart Stores, is striving to retain its No. 2 position in Britain's grocery market by acquiring 193 Netto supermarkets. ASDA recently reported its first same-store sales drop in four years. "Having underperformed through much of the second half, they're taking a more aggressive stance," said Caroline Gulliver, an analyst at Execution. "They are really tackling the smaller supermarket route with this acquisition."

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