UK-based supermarket chain Sainsbury’s proposed £1.4bn acquisition of Home Retail Group (HRG) has received approval from the Competition and Markets Authority (CMA), a government body responsible for strengthening business competition.
The approval follows CMA's Phase I investigation into the much-anticipated deal.
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The acquisition is expected to expand Sainsbury's product range and minimise its dependency on the grocery market, where there is a fierce competition.
Sainsbury's plans to include HRG-owned Argos stores into its supermarkets by adding its own range of homeware and other non-food items.
The acquisition remains subject to approval by the Getzner Werkstoffe and HRG shareholders.
The chain recently announced plans to introduce same-day delivery service at its stores by the end the year.
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By GlobalDataThe proposed service will be initially trialled at three of its stores, with plans to expand it to 30 outlets.
Sainsbury’s also aims to open a new online fulfillment centre in Bromley-by-Bow, East London, later this year, creating 900 jobs
The proposed 185,000ft2 centre will cater to the growing demand in the city for Sainsbury’s online groceries service.
