30 Apr 2018 --- Sainsbury’s and Walmart's UK supermarket chain Asda are joining forces in a deal worth £15 billion (US$20.67 billion) to create a dynamic new player in the retail market with a huge breadth of products and multiple channels that are expected to shake-up Britain’s retail space. And the repercussions have already started as Sainsbury’s shares have surged 20 percent following confirmation of the tie-up this morning (April 30), while there are concerns that the combination will put a serious squeeze on some of the leading food suppliers – including the likes of PremierFoods, Greencore, Cranswick and Dairy Crest – and could lead to job losses at both Sainsbury’s and Asda stores.
FoodIngredientsFirst first reported on the initial talks for the merger on Saturday, April 28. You can read the initial coverage here.
By Gaynor Selby