LONDON—Sainsbury’s has agreed to buy Walmart’s Asda for about £7.3 billion ($10 billion) to create Britain’s biggest supermarket group by market share, overtaking long-standing leader Tesco.
The industry’s biggest UK deal for over a decade brings together the country’s second- and third-largest food retailers, aiming to generate savings and buying power to better compete with fast-growing discounters, a bigger Tesco after its purchase of wholesaler Booker, and the rise of online shopping.
