- Founded: 1949 in Leeds, England (as Associated Dairies and Farm Stores Ltd)
- 2023 Revenue: £24.6 billion (including fuel)
- Employees: Approximately 140,000
- UK Market Share: 11.4% (December 2025)
- Store Count: Over 1,000 locations across the United Kingdom
Asda Stores Ltd operates as one of the United Kingdom’s largest supermarket chains. The company is headquartered in Leeds, England, where it has maintained its base since its founding.
Asda sells groceries, clothing under the George brand, home products, and general merchandise. The retailer operates multiple store formats including superstores, supermarkets, convenience stores under the Asda Express banner, and petrol stations.
TDR Capital currently owns 67.5% of Asda, with Mohsin Issa holding 22.5% and Walmart retaining a 10% stake following its sale of the company in 2021.
Asda Stores History
Asda Stores Co-founders
Asda Stores Revenue
Asda Stores reported total revenue of £24.6 billion in fiscal year 2023. Retail sales excluding fuel grew 5.8% year-on-year to £21.6 billion during this period.
The company saw like-for-like sales growth of 5.4% in 2023, recovering from a 0.2% decline in 2022. Online grocery and George.com combined represented 16.9% of total retail sales.
Asda Stores Acquisitions
Asda has expanded through several acquisitions over its history. The company first grew rapidly in 1965 when it acquired the GEM retail chain, gaining large-format stores that transformed its business model. GEM had been struggling with two UK stores, but Asda increased weekly sales from £6,000 to £60,000 within six months.
In 1985, Asda purchased MFI, a furniture retailer, for approximately £300 million. The company also acquired Allied Carpets during this period. These acquisitions proved troublesome, and Asda sold both businesses in 1987 to refocus on food retailing.
The 1989 purchase of 61 Gateway Superstores for £705 million marked Asda’s expansion into Southern England. This acquisition overstretched the company financially and contributed to difficulties that required shareholder funding in 1991 and 1993.
In 2005, Asda bought 12 former Safeway stores in Northern Ireland from Morrisons, establishing its presence in that market. The 2010 acquisition of Netto UK for £778 million added 194 convenience stores to the network.
Under the Issa brothers’ ownership, Asda acquired Arthur Foodstores Ltd in 2022, gaining 129 convenience stores with petrol forecourts from the Co-op. The largest recent acquisition came in October 2023 when Asda completed the £2.27 billion purchase of EG Group UK properties. This deal added 356 forecourt sites converted to Asda Express stores, plus ownership of fast-food chain Leon and 462 franchise locations. These acquisitions grew Asda’s store count past 1,000 for the first time in March 2024.
Asda Stores Competitors
Asda competes in the UK grocery market against both traditional supermarkets and discount retailers. The market was historically dominated by the Big Four, but German discounters Aldi and Lidl have gained share. Tesco leads with 28.5% market share as of early 2025.
| Company | Headquarters | UK Market Share |
|---|---|---|
| Tesco | Welwyn Garden City | 28.5% |
| Sainsbury’s | London | 14.9% |
| Aldi | Atherstone | 10.4% |
| Morrisons | Bradford | 8.7% |
| Lidl | London | 7.9% |
| Co-op | Manchester | 5.4% |
| Waitrose | Bracknell | 4.4% |
| Iceland | Deeside | 2.3% |
| Ocado | Hatfield | 1.8% |
| M&S Food | London | 3.8% |
FAQs
What does Asda stand for?
Asda stands for Asquith and Dairies. The name was created in 1965 when the Asquith brothers merged their supermarket business with Associated Dairies.
Who owns Asda now?
TDR Capital owns 67.5% of Asda. Mohsin Issa holds 22.5% and Walmart retains 10%. TDR became majority owner in November 2024 after buying Zuber Issa’s stake.
When was Asda founded?
Asda was founded on 3rd May 1965 in Leeds, England. Its predecessor company, Associated Dairies and Farm Stores Ltd, was formed in 1949.
How many Asda stores are there in the UK?
Asda operates over 1,000 stores across the UK. This includes superstores, supermarkets, petrol stations, and Asda Express convenience stores opened since 2022.
When did Walmart sell Asda?
Walmart sold Asda in February 2021 to the Issa brothers and TDR Capital for £6.8 billion. Walmart kept a 10% equity stake and a seat on the board.
