// Asda to launch new store concept trial in Midlands
// The grocer will introduce a convenience store format Asda on the Move
// The concept is in partnership with the EG Group
Asda will trial a new store concept, Asda on the Move to offer a new convenience format where customers can easily purchase fresh food and essentials.
The grocer has partnered with previous potential buyers billionaire brothers Mohsin and Zuber Issa from EG Group to launch the trial at three EG Group petrol station forecourts in the Midlands.
The Issa brothers had been in the running to buy a majority stake in Asda but were reported not to have been among those to submit a bid last week.
- Asda sale could be confirmed this week
- Debenhams & Asda ex-CEOs lining up £6.5bn private equity bids for Asda
Asda owner Walmart put the retailer up for sale after its much-discussed merger with Sainsbury’s was blocked by competition authorities last year.
Asda’s sale could be confirmed as early as Friday, September 25.
Both Apollo Global Management and Lone Star Funds have already submitted bids through to value the business of around £6.5 billion.
Debenhams’ former chief executive Rob Templeman has been helping Apollo to oversee their bid.
Moreover, Asda is also launching B&Q trial concessions in four stores and piloting a trial with online retailer music Magpie in five stores in the north.
Asda will also extend its year-long partnership with Claire’s to 15 new stores from September.
“Our partnerships strategy is focused on making our busy customers’ lives easier,” Asda chief strategy officer Preyash Thakrar.
“We anticipate working with more businesses who share our passion for delivering value for customers in the coming months.”