Asda commits to sourcing 100% British beef as part of takeover

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Asda has pledged to move to 100% British sourced beef as it announced a takeover by a pair of Blackburn based brothers.

A consortium of Zuber and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda from the US based Walmart.

The brothers are the founders and chief executives of EG Group.

The supermarket will return to majority UK ownership for the first time in two decades.

It follows a failed merger with Sainsbury’s, which was blocked on competition grounds.

Under its new owners, Asda has pledged to increase the proportion of UK-based suppliers and the volume of products such as chicken, dairy, wheat and potatoes purchased from UK suppliers.

It also made a commitment to source 100 per cent British beef.

And it also wanted to continue to offer low prices across its stores and product categories.

It also said it would retain Asda’s industry-leading payment terms for suppliers.

Roger Burnley, chief executive officer of Asda, said it opened an ‘exciting new chapter’.

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