One means of acquiring a business is to purchase the assets. These can include premises, equipment and stock. Unlike a share purchase, the ownership of the business will change. Also, depending on values the purchase of premises as part of the business assets can result in a liability to Stamp Duty Land Tax.
With an asset sale, it is normally the case that the staff who work for the business to be acquired are automatically transferred to the buyer, under the TUPE Regulations.