M&A Deal Summary

TDR Capital Acquires Asda

On October 2, 2020, private equity firm TDR Capital acquired retailer Asda from Walmart for 6.8B GBP

Acquisition Highlights
  • This is TDR Capital’s 2nd transaction in the Retail sector.
  • This is TDR Capital’s 0th largest (disclosed) transaction.
  • This is TDR Capital’s 12th transaction in the United Kingdom.

M&A Deal Summary
Date 2020-10-02
Target Asda
Sector Retail
Buyer(s) TDR Capital
Sellers(s) Walmart
Deal Type Divestiture
Deal Value 6.8B GBP

Target

Asda

Leeds, United Kingdom
website
ASDA is a grocery retailer with an omni-channel, multi format food and non-food offerings. It is the second-largest grocery retailer in the North of England, Scotland and Wales, and has the second-largest online grocery platform in the UK. The company operates a significant store estate across over 600 sites in the UK, with its core focus being the operation of edge-of-town superstores with an average surface area of over 4,000 square metres. The food and non-food offer are focused on everyday affordable pricing, targeting a broad customer demographic.

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Buyer(S) 1

Buyer

TDR Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2002
PE ASSETS 8.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

TDR Capital is a private equity firm that targets large companies valued from €300 million to €1.5 billion. TDR has a particular interest in under-managed, under-invested or misunderstood companies which may be transformed through greater strategic and operational focus. TDR is sector agnostic, however the Firm has a preference for opportunities in the leisure/hospitality, financial services, and business services sectors. TDR Capital was formed in 2002 and is based in London.

DEAL STATS #
Overall 23 of 24
Sector (Retail) 2 of 2
Type (Divestiture) 7 of 8
Country (United Kingdom) 12 of 13
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 Globalization Partners

Boston, Massachusetts, United States

Globalization Partners is a global employment platform that simplifies remote team building by making it fast and easy for companies to hire anyone, anywhere, within minutes. Globalization Partners was founded in 2012 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 BPP

London, United Kingdom

BPP Holdings provides education and training in law, business, finance, accountancy, banking, technology and nursing both through relationships with corporates and directly to consumers across test preparation, university, apprenticeship and professional development. BPP Holdings was formed in 1976 and is based in London.

Buy -

Seller(S) 1

SELLER

Walmart

Bentonville, Arkansas, United States

website

Category Company
Founded 1945
Sector Retail
Employees2,100,000
Revenue 611.3B USD (2023)
DESCRIPTION
Entrance to Walmart's corporate campus in Bentonville, Arkansas.
Entrance to Walmart's corporate campus in Bentonville, Arkansas.

Walmart is a discount retailer with operations across the globe. Walmart operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM?S CLUBS in the US. Internationally, the company operates in Puerto Rico, Canada, China, Mexico, Germany, United Kingdom, Argentina, and South Korea. Walmart was formed in 1945 and is based in Bentonville, Arkansas.

DEAL STATS #
Overall 5 of 9
Sector (Retail) 2 of 4
Type (Divestiture) 5 of 8
Country (United Kingdom) 1 of 1
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-27 Shoes.com

Boston, Massachusetts, United States

Shoes.com is an online retailer of men's, women's, and children's shoes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-16 Seiyu

Tokyo, Japan

Seiyu is an operator of a Japanese group of supermarkets, shopping centers, and department stores. Seiyu offers customers a broad assortment including fresh food, general merchandise, and apparel products across Japan from Hokkaido to Kyusyu. Seiyu was founded in 1963 and is based in Tokyo, Japan.

Sell -
Mergr

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