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Asda Grows Vegan Grillin Options

\"\"Veganism is a growing trend, with over 3.5 million Brits now choosing to follow a plant-based diet. With more people than ever opting for a meat-free lifestyle, UK retailer Asda has announced the extension of its vegan private brand range, launching NEW summer vegan products

Fully accredited by the Vegan Society, Asda’s new private brand range of delicious vegan burgers and sausages ensure there’s something for everyone over the summer.

As part of the range extension, Asda is introducing three vegan burgers, ideal for any summer bash. Cooked straight from frozen, the new burger range comprises innovative flavor combinations including; Butternut Squash, Sweet Potatoes & Red Pepper; Edamame, Asparagus & Mint and Beetroot & Sunflower Seeds.

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Made using natural ingredients that create bright bursts of color, the new frozen vegan burgers are the perfect patties for those following meat-free diets.

Andrew Johnston, Asda vegan expert and innovation chef, comments: “We’re committed to catering for the growing number of Asda customers following a vegan diet. The introduction of even more delicious and innovative vegan-friendly foods ensures everyone can enjoy tasty meal options this summer. Our new range of sausages, burgers, and dairy free cheese are packed with flavor and will bring vegan meals to the forefront of the summer season!”

Following the launch of Asda’s Vegan Cheddar earlier this year, the supermarket has also launched additional vegan-friendly versions of the nation’s favorite food – cheese.

Ideal for any cheesy meal, the Grated Cheddar, and Grated Mozarella Alternative are perfect for melting on your flavorsome vegan burger or sprinkling on a light summer salad.

Asda’s new range of vegan products includes:

  • Edamame, Asparagus & Mint Burger – £1.50
  • Beetroot & Sunflower Seed Burger – £1.50
  • Smoky Butternut Squash & Red Pepper Burger – £1.50
  • Butternut Squash, Sweet Potatoes & Red Pepper Sausages – £1.50
  • Mushroom & Kale Sausages – £1.50
  • Grated Cheddar Alternative – £2.00
  • Grated Mozzarella Alterative – £2.00
  • Soft Cheese Alternative – £2.00
  • 12 Sweet Potato Falafels – £1.50
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Featured global

Walmart and Sainsbury’s Announce Merger of Sainsbury’s & Asda

\"\"Walmart Inc. and J Sainsbury plc today announced the combination of Sainsbury’s and Asda Group Limited, Walmart’s wholly owned UK retail subsidiary

The Combined Business will create a dynamic new player in UK retail with an outstanding breadth of products, delivered through multiple channels. Enhanced scale and a strengthened balance sheet will deliver a great deal for customers, colleagues, suppliers and shareholders of both businesses. The retail sector is going through significant and rapid change, as customer shopping habits continue to evolve. This has led to increased competition across grocery, general merchandise and clothing, as customers seek ever greater value, choice and convenience. Bringing Sainsbury\’s and Asda together will result in a more competitive and more resilient business that will be better able to invest in price, quality, range and the technology to create more flexible ways for customers to shop.

Commenting on the Combination, David Tyler, Chairman of Sainsbury\’s, said: “We believe that the combination of Sainsbury\’s and Asda will create substantial value for our shareholders and will be excellent news for our customers and our colleagues. As one of the largest employers in the country, the combined business will become an even greater contributor to the British economy. The proposal will bring together two of the most experienced and talented management teams in retail at a time when the industry is undergoing rapid change. We welcome Walmart as a significant shareholder and look forward to working closely with them.”

The Combination will result in Walmart holding 42% of the issued share capital of the Combined Business and receiving £2.975 billion of cash (subject to customary completion adjustments), valuing Asda at approximately £7.3 billion on a debt-free, cash-free and pension-free basis. At the time of completion of the Combination, Walmart will not hold more than 29.9% of the total voting rights in the Combined Business4.

The Combination will:

  • Create one of the UK’s leading grocery, general merchandise and clothing retail groups, with combined revenues of c.£51 billion for 20175
  • Maintain both the Sainsbury\’s and Asda brands and enable them to sharpen their distinctive customer propositions and attract new customers
  • Combine a complementary network of more than 2,800 Sainsbury\’s, Asda and Argos stores and several of the UK’s most visited retail websites, to create greater choice for customers through more store formats and channels, with a combined 47 million customer transactions per week
  • Enable investment in areas that will benefit customers the most: price, quality, range and creating more flexible ways to shop in stores and through digital channels, across Sainsbury\’s, Asda and Argos. Potentially lower prices by 10% on many of the products customers buy regularly
  • Generate net EBITDA synergies, post investments in price, across the enlarged group of at least £500 million. These synergies are comprised largely of buying benefits, opening Argos in Asda stores and operational efficiencies. There are no planned Sainsbury\’s or Asda store closures as a result of the Combination
  • Deliver benefits to the Combined Business through a close relationship with Walmart, both as a strategic partner and long-term shareholder, allowing the business to share knowledge and technology developments between Walmart, Sainsbury\’s and Asda
  • Offer more opportunities for over 330,000 colleagues at all levels within the enlarged group, drawing on the shared values and heritage of both businesses
  • Create significant opportunities for suppliers to develop differentiated product ranges, become more streamlined and to grow their businesses as the Combined Business grows
  • Deliver substantial value creation for shareholders of Sainsbury\’s, through double digit EPS accretion and low double digit ROIC by the second full financial year post-completion
  • Reduce Sainsbury’s lease-adjusted leverage, benefiting from Asda’s high freehold property ownership6 and pension-free balance sheet, protecting the interests of hundreds of thousands of Sainsbury\’s and Asda pension holders
  • Be highly cash generative, enabling a faster de-leveraging profile. The Combined Business is expected to have an investment grade credit profile on completion

Enabling investment in areas that will benefit customers the most: price, quality, range and creating more flexible ways to shop, across Sainsbury’s, Asda and Argos. It is expected that value will be passed on to customers through significant price reductions

Commenting on the Combination, Roger Burnley, Chief Executive Officer of Asda, said:

“The combination of Asda and Sainsbury\’s into a single retailing group will be great news for Asda customers, allowing us to deliver even lower prices in store and even greater choice. Asda will continue to be Asda, but by coming together with Sainsbury\’s, supported by Walmart, we can further accelerate our existing strategy and make our offer even more compelling and competitive.

From my six years with Asda and ten years with Sainsbury\’s, I know first hand that both organisations are fortunate to employ some of the most talented and customer-focused colleagues in this market and I am excited by the opportunity of the two coming together.”

Maintaining both the Sainsbury’s and Asda brands and enabling them to sharpen their distinct customer propositions and attract new customers

Offering more opportunities for over 330,000 colleagues at all levels within the enlarged and more resilient group, drawing on the shared values and heritage of both businesses

Combining a complementary network of more than 2,800 Sainsbury’s, Asda and Argos stores and several of the UK’s most visited retail websites to create greater choice for customers through more store formats and channels, with a combined 47 million customer transactions per week

Generating net synergies, post price investments, across the enlarged group of at least £500 million. These are comprised largely of buying benefits, opening Argos in Asda stores and operational efficiencies. There are no planned Sainsbury’s or Asda store closures as a result of the Combination

A comprehensive range of channels and formats across supercenters, superstores, supermarkets, convenience stores and digital

Based on the current deal terms, Walmart expects to recognize a non-cash loss of approximately $2 billion, which is based on the current value of shares to be received and current foreign exchange rates. This estimate could fluctuate significantly due to changes in the fair value of the equity consideration to be received and changes in currency exchange rates.

Walmart will be a long-term shareholder and partner and will leverage its global scale and investment to support the Combined Business. Upon completion, two Walmart representatives will join the Board of the Combined Business as non-executive directors.

The Combined Business will be chaired by the Sainsbury\’s Chairman and led by the Sainsbury\’s CEO and CFO. Asda will continue to be run from Leeds with its own CEO, who will join the Group Operating Board of the Combined Business.

The Combined Business will be run by the best leaders from both businesses, supported by highly capable Sainsbury\’s and Asda colleagues.

Commenting on the Combination, Mike Coupe, Chief Executive Officer of Sainsbury\’s, said:

“This is a transformational opportunity to create a new force in UK retail, which will be more competitive and give customers more of what they want now and in the future. It will create a business that is more dynamic, more adaptable, more resilient and an even bigger contributor to the UK economy. Having worked at Asda before Sainsbury\’s, I understand the culture and the businesses well and believe they are the best possible fit. This creates a great deal for customers, colleagues, suppliers and shareholders and I am excited about the opportunities ahead and what we can achieve together.”

Commenting on the Combination, Judith McKenna, President and Chief Executive Officer of Walmart International, said:

“This proposed merger represents a unique and bold opportunity, consistent with our strategy of looking for new ways to drive international growth. Asda became part of Walmart nearly 20 years ago, and it is a great business and an important part of our portfolio, acting as a source of best practices, new ideas and talent for Walmart businesses around the world. We believe this combination will create a dynamic new retail player better positioned for even more success in a fast-changing and competitive UK market. It will unlock value for both customers and shareholders, but, at the same time, it’s the colleagues at Asda who make the difference, and this merger will provide them with broader opportunities within the retail group. We are very much looking forward to working closely with Sainsbury\’s to deliver the benefits of the combined business.”

Due to the conditions to complete the transaction, including regulatory approval which could extend into the second half of calendar year 2019, the timing of the loss recognition is not yet determined. Walmart expects the impact to earnings to be slightly dilutive in the first full year following completion of the transaction and neutral to slightly accretive in subsequent years, as synergies are realized. Walmart will update further after the deal closes. Walmart is scheduled to report first quarter results on May 17, 2018.

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Featured global

Asda Celebrates The Holiday With Prosecco

\"\"Earlier this month Walmart owned British retailer Asda announced that it will be selling six bottles of its ward winning private brand yellow label Prosecco for just £25, (£4 a bottle – $5.39 US.) The bubbly recently winning Silver at the 2017 Decanter Awards and Bronze at the prestigious International Wine Challenge. The offer debuted in stores Wednesday November 22nd.

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Featured

Asda Resurrects the Farm Stores Value Brand

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UK-based Walmart subsidiary Asda has renamed and redesigned its value/basic private brand Smart Price as the Farm Stores brand.

Asda, which pledged to replace the Smart Price branded products completely by 2018, has recently reintroduced the Farm Stores for both meat and fresh produce. The brand was resurrected, in its earlier incarnation it was available on shelves from approximately 1993 to 2001

But an Asda spokeswoman said: “We know how important quality produce at a great price is to our customers. We’re reconnecting with our heritage by bringing back the Farm Stores brand to Asda – a name that our customers remember and trust for great value quality produce.”

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Featured global

Asda Award-Winning Wonky Veg Boxes

\"\"UK based retailer Asda has announced the arrival of a new set of their wonky vegetable boxes. The popular private brand product has just been voted Product of the Year for Healthy Food by UK consumers.

Since their introduction, Asda has sold 120,000 boxes of the misshapen vegetables as part of their mission to cut food waste. They contain 5kg of fresh produce – carrots, potatoes, peppers, cucumber, cabbage, leeks, parsnips and onions – and at £3.50 per box they’re 30% cheaper than standard lines. The exact contents will depend on the season.

Asda has also recently changed their grading system across produce lines to ensure they are taking in as much produce as possible from the farmers we work with.

This means that half the produce that would have gone to waste in previous years will now be sold at Asda, resulting in an additional 7,000 tons of misshapen fruit and veg being sold – including potatoes, citrus fruits, berries and carrots.

Ian Harrison, Asda’s produce technical director, said: \”We are extremely proud to be the pioneers of the wonky veg revolution and winning Product of the Year is testament to this, especially as it’s voted for by consumers.

“The response from the public to our wonky vegetable boxes has been incredible. Food waste continues to be high on our agenda and we’ve worked closely with our suppliers to review our specifications so that the maximum amount of produce ends up on shelf.

“The insight we have gathered from customers since starting to sell the wonky box has been invaluable. We are now able to flex our specifications to help growers sell their products and maintain availability for our customers, without compromising on quality.”