Wal-Mart’s Asda Buys Netto Stores

LONDON — Asda, the United Kingdom division of Wal-Mart Stores, on Thursday said it agreed to purchase Netto Foodstores, the U.K. division of Danish retailer Dansk Supermarked, for about $1.1 billion.

Netto operates 193 limited assortment discount stores in the U.K. with an average size of 8,000 square feet.

Asda said it intended to convert the stores to the Asda banner by next year and would operate them as part of its “new supermarkets” division of stores smaller than 25,000 square feet.

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