Who has just bought Asda?

TDR Capital became the majority owner of Asda towards the end of 2024. Asda is now under the majority control of private equity giant TDR Capital after billionaire Zuber Issa sold his shares in the supermarket giant.

Who is the new owner of Asda?

We are pleased to announce that TDR Capital (“TDR”) has completed the acquisition of Zuber Issa's shares in Asda and has become the majority shareholder with a 67.5% ownership. Moshin Issa and Walmart Inc remain co-shareholders in the business.

Do the two brothers still own Asda?

As of April 2025, Mohsin is a minority owner of Asda, whilst Zuber has since sold his shareholding. Zuber is the owner and chief executive of his separate business, EG On the Move. The brothers collectively own half of the EG Group business, and both remain on its board as non-executive directors.

Is Asda owned by Muslims in the UK?

What happened? Two Muslim brothers hailing from Blackburn have agreed, as part of a consortium, to buy a majority stake in Asda. They partnered up with TDR Capital – a private equity firm – to make the successful bid of £6.8bn.

How are the Issa brothers doing?

Over the past 15 months, the two brothers have stepped down as EG Group co-chief executives while retaining seats on the board. Zuber Issa is now focused on his separate EG On The Move business, which bought the group's UK forecourt business for £228m in January.

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Are the Issa brothers in debt?

Founded by the Issa Brothers in 2001, EG Group had built a debt pile of around £7.6bn by the end of 2022. It is now understood to owe around £4bn.

Do the Issa brothers own KFC?

EG Group, the debt-laden petrol group owned by the billionaire Issa Brothers, has offloaded all of its franchise KFC sites in the UK and Ireland to the US multinational behind the fried chicken empire. The sale is the latest ploy by the duo behind the Blackburn-based forecourts group to reduce its mounting debt pile.

Is Asda in financial trouble?

The UK's third-biggest supermarket dropped £599m into the red in the year to 31 December 2024, before tax payments, down from a £180m profit in 2023, according to accounts for Bellis Finco, the retailer's holding company.

What is Mohsin Issa's net worth?

Mohsin and Zuber Issa, who founded the EG Group, are ranked as the fourth wealthiest people in the North West after moving up one spot compared to last year. They sit at number 32 in the national ranking. Their joint wealth is £6bn, according to the Sunday Times, a £1bn increase on last year.

What is the Issa brother controversy?

Billionaire brothers behind a British supermarket chain took millions out of their gas station chain so they could repay debt on their private jets. Prarthana Prakash was a Europe business reporter at Fortune. A Bombardier Global 6000 is one of the two private jets owned by the Issa brothers.

Where is Mohsin Issa from?

📊 How 2 immigrant brothers (Mohsin & Zuber Issa) from Blackburn became the 39th richest family in the UK, bought ASDA, and own 6,000+ petrol stations that generate £20B a year.

How rich are the Issa brothers?

Zuber, 52, left, sold his 22.5 per cent stake in Asda last year; Mohsin, 53, retains his holding.” In 2024 the brothers were worth £5 billion, according to the report.

Which Issa brother has left his wife?

Mohsin and Zuber Issa, who are both in their 50s, made their fortunes running the petrol forecourt empire EG Group before taking over Asda from Walmart for £6.8billion three years ago. However, a rift between the brothers has appeared after Mohsin left his wife of 30 years for a glamorous high-flying accountant.

What nationality is TDR Capital?

TDR Capital LLP is a British private equity firm headquartered in London, England.

Who are the Issas?

The Issas are one of the main Somali clans.

Besides Somalia, the Issas live in Djibouti and in north-eastern Ethiopia. In Djibouti (formerly the French Territory of the Afars and Issas), the indigenous population is almost evenly divided between the Issas and the Afars (ethnic group of Ethiopian origin).

Who is Manjit Dale?

Manjit Dale (born June 1965) is a London-based businessman. He founded TDR Capital with Stephen Robertson in 2002. It is located on Bentinck Street in Marylebone, central London. Dale attended the University of Cambridge where he studied economics.

Does Walmart still own Asda?

In February 2021, the Issa brothers and TDR Capital acquired Asda, with Walmart retaining "an equity investment" in Asda, a seat on the board and "an ongoing commercial relationship". The deal came after an acquisition by Sainsbury's was rejected by the Competition and Markets Authority.

Who owns KFC right now?

The chain is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut and Taco Bell chains.

Did Mohsin Issa leave Asda?

Asda co-owner Mohsin Issa has stepped down as chief executive of petrol station chain EG Group ahead of its initial public offering. In a statement, the business confirmed Issa has been replaced by its current chief financial officer Russell Colaco.

Is Asda struggling financially?

Asda still struggling but George shines, plans 10 more fashion and home standalones next year. Supermarkets giant Asda continues to struggle but its George clothing and homewares brand remains a beacon with sales rising in Q2.

Is Tesco in debt?

What Is Tesco's Net Debt? The chart below, which you can click on for greater detail, shows that Tesco had UK£6.95b in debt in February 2025; about the same as the year before. However, it does have UK£4.63b in cash offsetting this, leading to net debt of about UK£2.32b.

What does Asda stand for?

ASDA stands for Associated Dairies. The company was founded in 1949 when the supermarket-owning Asquith family merged with the Associated Dairies company of Yorkshire. It expanded into the south of England during the 1970s and 1980s.

Are the Issa brothers British?

1970s - Mohsin and Zuber Issa's parents arrive to the UK from Gujarat, India, and the brothers are born not long afterwards in Blackburn, Lancashire. They work at their parents' petrol station before it closes. 2001 - The brothers buy their first filling station in Bury, Greater Manchester.

How much are the Mohsin Issa brothers worth?

Until now the British-Indian Issa brothers have preferred to stay out of the media spotlight, giving no interviews while they built a business empire spanning 10 countries. They have made it big time - so big the double act was listed 40th on the Sunday Times' Rich List last year with a net worth of £5.05bn.

Who is Victoria Price and Mohsin Issa?

Victoria is Managing Director at Alvarez & Marsal and Mohsin is Chief Executive of EG Group. Both Victoria and Mohsin share a powerful belief: impossible doesn't exist — and that better never stops. Throughout their talk they shared insights, advice, and strategies that have made them leaders in their fields.