Asda acquisition of Netto limits consumer choice, says ACS

After the announcement of Asda’s purchase of the Netto business in the UK for £778m, Association of Convenience Stores chief executive James Lowman said: “The UK already has one of the most concentrated grocery markets in the world, with four companies controlling three-quarters of the market. That leads to serious concerns about consumer choice and retail diversity, and Asda’s acquisition of Netto continues the dangerous trend of consolidation.

“The OFT needs to look into this acquisition and to address choice and competition in each local market and at a national level.”