Asda completes Netto takeover

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Asda has completed its takeover of Netto Foodstores in the UK following regulatory approval from the UK competition authorities

It plans to convert Netto’s distribution centre at South Elmsall near Wakefield into an ambient cross-dock centre within its own distribution network. It expects to accommodate the majority of the staff at that location within the new centre or, subject to consultation, at other Asda depots close by in Yorkshire.

However, it plans to close Netto’s other depot at Daventry in 2011. It said that, subject to consultation, it expected to be able to accommodate the majority of the staff through regular vacancies at its four other distribution centres at Magna Park, which is just a few miles up the M1.

Netto was own by AP Møller – Mærsk through its Dansk Supermarked subsidiary. It said the sale had generated an accounting gain of DKK 4.3 billion, equal to £513 million. 


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