As the retail tides continue to ebb and flow, Walmart is one company always at the helm of strategic growth. We recently caught wind of another of Walmart’s plans as rumors that the retailer will be selling its Asda chain have resurfaced.
This news, which came earlier in March of this year, posited that Asda could be sold for upwards of $8.6 billion. Asda itself has also become a valuable retail partner on its own, making strategic moves to amplify its fresh offerings through industry partners like Uber Eats, as reported by our sister site AndNowUKnow.
According to a report from Bloomberg, the multibillion-dollar deal was put on hold due to COVID-19. The news source stated that renewed interest from potential buyers has cropped up, with several looking to gain a stake in Asda.
“We believe now is the right time to explore options for a third party to invest in our business to accelerate the long-term delivery of our strategy, both in stores and online,” Walmart and Asda remarked in an emailed statement to Bloomberg. The statement noted that discussions do not necessarily mean a transaction will occur.
Whether or not Walmart follows through with the sale, Deli Market News will be sure to report.