Mohsin and Zuber Issa

Mohsin Issa was born in July 1971, and Zuber Issa in June 1972 in Blackburn, Lancashire in North West England into an Indian Gujarati Muslim family{{cite news |title=Petrol stations owned by Muslim family remove alcohol from shelves|newspaper=The Express Tribune |url=https://tribune.com.pk/story/1032827/petrol-stations-owned-by-muslim-family-remove-alocohol-from-shelves}}{{cite web|title=UK billionaire brothers' mega mosque plan gets council's nod|publisher=Ummid|url=https://ummid.com/news/2021/march/20.03.2021/uk-billionaire-brothers-mega-mosque-plan-gets-councils-nod.html}} to parents Vali and Zubeda who came to the United Kingdom from Bharuch, Gujarat, India in the 1960s to work in the textile industry, and then ran a petrol station.{{Cite news|url=https://www.thetimes.com/article/high-octane-rise-of-brothers-firm-shows-family-value-wqvfnlh6s|title=High-octane rise of brothers' firm shows family value|author= Watts, Robert|author2= McCall, Alastair|date=7 May 2017|work=The Sunday Times|access-date=2 March 2018}} They were educated at Witton Park Academy.{{cite news |last1=Neate |first1=Rupert |title=New Asda owners Mohsin and Zuber Issa – the Blackburn billionaire brothers |url=https://www.theguardian.com/business/2020/oct/02/new-asda-owners-mohsin-and-zuber-issa-the-blackburn-billionaire-brothers |access-date=2 October 2020 |work=The Guardian |date=2 October 2020}} Their childhood was a modest one, growing up in a terraced house in Blackburn.

After leaving school, the brothers worked in the clothing industry for a short time. In 1988/90, Zuber, aged around 17 or 18, purchased a news kiosk in Preston called Euro News, which he later expanded into a newsagent chain in busy mall locations in the North-West of England.{{Cite web |last=Corporate |first=Asda |date=1 September 2024 |title=Zuber Issa CBE |url=https://corporate.asda.com/zuber-issa-cbe |access-date=1 September 2024 |website=Asda Corporate}}{{Citation |title=The Billionaire brothers owners of Asda -ISSA Brothers from Lancashire | date=14 August 2022 |url=https://www.youtube.com/watch?v=ltWiGoSU6Kc |language=en |access-date=2023-01-09}} In 1993, Mohsin co-founded the plastic-packaging firm Europlast alongside older brother Zakir, of which Zuber would become a shareholder in 1998.{{Cite news |date=2020-12-18 |title='Appalling' safety at Asda buyers' former company |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-55307392 |access-date=2023-01-09}}

{{Further|EG Group|EG On the Move}}

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| quote = “When you look at what [the petrol forecourt] business was, kiosked out, Cokes and smokes, you wouldn't buy any food, it would be distress purchase et cetera. We had the vision of actually modernising that, investing in that. It was our vision in addressing multiple missions in one convenient location.”

—Mohsin Issa speaking to the Business and Trade Select Committee

on Tuesday 19 December 2023.

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Before founding Euro Garages, the Issa brothers took out a lease on a garage, and saved up the money to buy their first petrol station.{{Cite news|url=https://realbusiness.co.uk/hr-and-management/2010/11/29/band-of-brothers-why-sibling-run-firms-work/|title=Band of brothers: Why sibling-run firms work |author =Orton-Jones, Charles |date=29 November 2010|work=Real Business|access-date=2 March 2018}} They co-founded Euro Garages in 2001, with the acquisition of a single petrol station in Bury, Greater Manchester.{{cite news |url=https://www.manchestereveningnews.co.uk/news/greater-manchester-news/billionaire-brothers-who-built-empire-19016490 |title=The billionaire brothers who built an empire from a Bury petrol station and have just bought ASDA for £6.8bn |last=George |first=Thomas |date=2 October 2020 |work=Manchester Evening News |access-date=2 October 2020}}

Euro Garages expanded as oil majors (such as Esso) offloaded their forecourt sites, with Euro Garages using these acquisitions to expand retail and food convenience offerings.{{Cite AV media|title=The Billionaire brothers owners of Asda - ISSA Brothers from Lancashire|publisher=BBC Sounds|url=https://www.youtube.com/watch?v=ltWiGoSU6Kc|type=Audio, 13'56"|language=en |date=2021-04-25|via=YouTube}}{{Cite news |last=Frost |first=Richard|title=Acquisitions drive growth at Euro Garages|publisher=Insider Media|url=https://www.insidermedia.com/insider/northwest/acquisitions-drive-growth-at-euro-garages |date=2016-01-19}}

Prior to the Asda acquisition, Mohsin ran the business day-to-day, whilst Zuber was responsible for strategy and acquisitions.

In June 2024, it was reported that Zuber was looking to step down from being co-executive officer of EG Group to focus on his separate EG On the Move business.{{Cite web |date=2024-06-08 |title=Blackburn Issa brothers to split as Asda share sale announced |url=https://www.bbc.co.uk/news/articles/c3ggpvnv3kvo |access-date=2024-08-31 |website=BBC News |language=en-GB}}

In October 2020, Walmart announced an agreement to sell a majority stake in British supermarket chain Asda to a consortium of the Issa brothers and private equity firm TDR Capital. In August 2021, Roger Burnley unexpectedly stepped down as Asda's chief executive, with Mohsin operating Asda's day-to-day business going forward.{{Cite web |last=Jahshan |first=Elias |date=2021-08-06 |title=Asda CEO Roger Burnley resigns earlier than expected after takeover |url=https://www.retailgazette.co.uk/blog/2021/08/asda-ceo-roger-burnley-resigns-earlier-than-expected-after-takeover/ |access-date=2024-02-08 |website=www.retailgazette.co.uk |language=en-GB}}

On 19 July 2023, Mohsin appeared before the Commons' Business and Trade Select Committee, angering committee members, who accused Issa of 'failing to answer questions about the supermarket’s fuel prices, finances and treatment of staff.'{{Cite web |date=2023-07-24 |title=Asda co-owner angers MPs during fuel prices grilling session - Retail Gazette |url=https://www.retailgazette.co.uk/blog/2023/07/asda-issa-angers-mps/ |access-date=2023-07-24 |archive-url=https://web.archive.org/web/20230724093418/https://www.retailgazette.co.uk/blog/2023/07/asda-issa-angers-mps/ |archive-date=24 July 2023 }}

In December 2023, there were initial media reports that Mohsin and Zuber had suffered a falling out, though these reports were criticised by a source close to the brothers.{{Cite news |last=Barr |first=Luke |date=2023-12-16 |title=Asda's billionaire brothers face billions of pounds of debt – and talks of strained ties |url=https://www.telegraph.co.uk/business/2023/12/16/asda-issa-brothers-growing-rift-financial-pressures/ |access-date=2024-02-05 |work=The Telegraph |language=en-GB |issn=0307-1235}} In February 2024, it was reported that Zuber Issa was seeking to sell his 22.5 per cent stake in Asda to focus on other areas of business.{{Cite news |last=Cahill |first=Helen |date=2024-02-05 |title=Billionaire Asda owner seeks to sell stake for more than £500m |newspaper=The Times |url=https://www.thetimes.com/business-money/companies/article/billionaire-asda-owner-seeks-to-sell-stake-for-more-than-500m-vg226xtvs |access-date=2024-02-05 |language=en |issn=0140-0460}} It was reported that the equity was worth £500 million.

In March 2024, Mohsin told the BBC that he was carrying out a "reset" at the grocer, before appointing a chief executive to succeed him. He also denied a rift with Zuber.{{Cite news |date=2024-03-01 |title=Issa brother to step back after 'fixing' Asda |url=https://www.bbc.com/news/business-68436330 |access-date=2024-03-01 |work=BBC News |language=en-GB}}

In June 2024, Zuber Issa announced he will sell his 22.5% stake in Asda to TDR Capital which would make them the majority owner, controlling 67.5% of the company in the third quarter of 2024.{{cite news|url=https://news.sky.com/story/asda-co-owner-zuber-issa-sells-his-stake-to-private-equity-company-tdr-capital-13149376|title=Asda co-owner Zuber Issa sells his stake to private equity company TDR Capital|work=Sky News|date=7 June 2024|access-date=7 June 2024}}

In September 2024, it was announced that Mohsin Issa would step-down as Asda's chief executive, with Lord Stuart Rose and TDR Capital's Rob Hattrell taking over Mohsin's responsibilities.

Through their Monte Group company, the Issa brothers are investors in the sports brand Castore.{{cite web |title=Issa brothers onside at Castore |url=https://castore.com/blogs/press/issa-brothers-onside-at-castore |access-date=1 August 2021 |website=Castore|date=14 July 2021 }} They also own the Stanley House Hotel & Spa in Lancashire.{{Cite web |date=2021-09-27 |title=EG Group acquires 52 KFC restaurants |url=https://www.thecaterer.com/news/eg-group-buys-kfc-restaurants-issa-brothers |access-date=2024-02-28 |website=The Caterer |language=en}}

In 2021, the brothers tried to acquire the fashion retailer Topshop, but lost out to ASOS.{{Cite web |title=Issa brothers miss out on TopShop and Miss Selfridge deal - ALL stores to close |url=https://www.lancashiretelegraph.co.uk/news/19053954.eg-group-blackburns-issa-brothers-miss-asos-topshop-takeover/ |access-date=2023-01-09 |website=Lancashire Telegraph |date=February 2021 |language=en}} In 2022, they attempted to acquire pharmacy chain Boots, but its American owners Walgreens decided not to sell it, and took it off the market.{{Cite news |title=Billionaires Face Off in Final Battle for UK High Street Staple|url=https://www.bloomberg.com/news/articles/2022-05-13/billionaires-face-off-in-final-battle-for-uk-high-street-staple |access-date=2022-09-10 |newspaper=Bloomberg|date=13 May 2022 }} In 2023, the brothers emerged as potential bidders for Subway, however it would end up being sold to Roark Capital Group.{{Cite web |last=Maidment |first=Adam |date=2023-03-28 |title=Billionaire Issa brothers 'considering £8bn takeover of sandwich giant Subway' |url=https://www.manchestereveningnews.co.uk/whats-on/food-drink-news/billionaire-issa-brothers-considering-8m-26575184 |access-date=2024-01-24 |website=Manchester Evening News |language=en}} Attempts to acquire Caffè Nero in the early 2020s were not successful.{{Cite web |last=Vay |first=Josie Le |date=2022-01-14 |title=Bombshell for billionaire Issa brothers' plans to buy Caffé Nero |url=https://www.manchestereveningnews.co.uk/news/greater-manchester-news/billionaire-issa-brothers-caff-nero-22749869 |access-date=2022-09-13 |website=Manchester Evening News |language=en}}

Since April 2022, Zuber Issa has independently operated a standalone supermarket in Blackburn, called Euro Grocers.{{Cite web |date=2022-04-01 |title=Shoppers converge on first Issa brothers Euro Grocers store to open in UK |url=https://www.asianimage.co.uk/news/business/20038500.shoppers-converge-first-issa-brothers-euro-grocers-store-open-uk/ |access-date=2024-08-23 |website=Asian Image |language=en}}

In July 2023, the brothers invested £30 million in HVS, a British zero-emission company that is developing a lorry running on hydrogen fuel cells.{{Cite news |last=Editor |first=Robert Lea, Industrial |date=2023-07-09 |title=Billionaire Issa brothers backing hydrogen-powered lorry start-up |newspaper=The Times |language=en |url=https://www.thetimes.com/article/billionaire-issa-brothers-backing-hydrogen-powered-lorry-start-up-d7vgvjfq7 |access-date=2023-07-10 |issn=0140-0460}}

In October 2024, Mohsin invested £10 million in Applied Nutrition, as it prepared to go public on the London Stock Exchange.{{Cite web |last=Young |first=Jamie |date=2024-10-16 |title=Former Asda boss Mohsin Issa invests £10m in sports supplement firm ahead of London IPO |url=https://bmmagazine.co.uk/get-funded/former-asda-boss-mohsin-issa-invests-10m-in-sports-supplement-firm-ahead-of-london-ipo/ |access-date=2024-10-19 |website=Business Matters |language=en-GB}}

In November 2024, it was reported that Mohsin and his partner Victoria Price had launched a firm called Boulder Investco, a private investment fund at backing fast-growing UK start-ups, including Manchester based second-hand clothing website GoThrift.{{Cite web |last=Goldfingle |first=Gemma |date=2024-11-03 |title=Asda co-owner Issa backs Vinted rival through new start-up investment fund - Retail Gazette |url=https://www.retailgazette.co.uk/blog/2024/11/asda-mohsin-investment-fund/ |access-date=2024-11-14 |language=en-GB}}

In June 2018, the brothers received Ernst & Young's 'Entrepreneur of the Year' award.{{Cite web |date=2018-06-29 |title=Blackburn brothers land prestigious prize {{!}} TheBusinessDesk.com |url=https://www.thebusinessdesk.com/northwest/news/2023987-blackburn-brothers-land-prestigious-prize |access-date=2024-08-31 |website=North West |language=en}} In October 2020, the Issas were each appointed Commander of the Order of the British Empire (CBE) in the year's Birthday Honours for services to business and charity.{{London Gazette

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Mohsin and Zuber established the Issa Foundation in March 2016.{{Cite web |title=ISSA FOUNDATION - Charity 1166025 |url=https://register-of-charities.charitycommission.gov.uk/charity-search/-/charity-details/5075420/governance |access-date=2024-09-03 |website=register-of-charities.charitycommission.gov.uk |language=en-GB}} In December 2020, their foundation revealed plans to build a mosque in Blackburn on the site of the former Westholme Nursery School; these plans were granted permission in March 2021.{{Cite news |date=2021-03-19 |title=Billionaire Issa brothers: £5m 'landmark' Blackburn mosque approved |url=https://www.bbc.co.uk/news/uk-england-lancashire-56458292 |access-date=2024-09-03 |work=BBC News |language=en-GB}}{{Cite news |date=2024-09-02 |title=New dome placed on top of £5m landmark Issa Foundation mosque |url=https://www.lancashiretelegraph.co.uk/news/24555209.new-dome-placed-top-ambitious-blackburn-mosque/ |access-date=2024-09-03 |work=Lancashire Telegraph |language=en-GB |issn=0307-1235}} In August 2024, the Issa Foundation was hit with enforcement action at the former St. Mary's College building in Blackburn surrounding complaints of loud noise.{{Cite web |last=Macpherson |first=Jon |date=2024-08-15 |title=Issa brothers' charity hit with enforcement action over events at former college |url=https://www.lancs.live/news/lancashire-news/issa-brothers-charity-hit-enforcement-29742115 |access-date=2024-09-03 |website=Lancs Live |language=en}}

Mohsin Issa's first marriage was to Shamin, with the couple having a son and a daughter.{{cite news |last1=Evans |first1=Peter |title=Petrol station brothers filled with drive |url=https://www.thetimes.com/business-money/markets/article/petrol-station-brothers-filled-with-drive-r2fvhbvw0 |url-access=subscription |access-date=4 October 2019 |work=The Times |date=2 June 2019}} In January 2024, it was reported that Mohsin Issa was in a relationship with an Ernst & Young partner, which resulted in Ernst & Young removing themselves as Asda's auditors in July 2023.{{Cite web |last=Hill |first=Eloise |date=2024-01-28 |title=Asda auditor EY resigns - Retail Gazette |url=https://www.retailgazette.co.uk/blog/2024/01/asda-auditor-leaves/ |access-date=2024-01-29 |website=www.retailgazette.co.uk |language=en-GB}} It was later revealed that the partner is Victoria Price, and that the pair first met at an Ernst & Young award ceremony in June 2018, though Price never had Asda as a client.{{Cite web |date=2024-02-02 |title=Mohsin Issa confirms relationship with ex-EY tax partner after Asda auditor resignation |url=https://finance.yahoo.com/news/mohsin-issa-confirms-relationship-ex-120514968.html |access-date=2024-02-08 |website=Yahoo Finance |language=en-US}} In October 2024, it was reported that Price was awarded damages by Associated Newspapers after two inaccurate stories were published about the affair in the Daily Mail.{{Cite web |last=Media |first=Insider |date=2024-10-18 |title=Victoria Price, partner of Asda entrepreneur Mohsin Issa, speaks to Insider after winning damages against Daily Mail - Insider Media |url=https://www.insidermedia.com/news/north-west/victoria-price-partner-of-asda-entrepreneur-mohsin-issa-speaks-to-insider-after-winning-damages-against-daily-mail |access-date=2024-12-04 |website=Insider Media Ltd |language=en}}

Zuber Issa is married to Asma, with the couple having four children.{{Citation |title=Billionaire Brothers Asda owners - ISSA Brothers from Lancashire {{!}} EuroGarages Group{{!}} #billionaire | date=14 August 2022 |url=https://www.youtube.com/watch?v=ltWiGoSU6Kc |access-date=2024-02-08 |language=en}}

In November 2017, the brothers invested in a £25 million mansion in Knightsbridge, in Central London.{{Cite news|last=Ralph|first=Alex|title=Brothers from 'wrong side of Pennines' who took over Asda|newspaper=The Times |language=en|url=https://www.thetimes.com/business-money/markets/article/brothers-from-wrong-side-of-pennines-who-took-over-asda-r78r95w7v |url-access=subscription |date=2020-10-03|issn=0140-0460}} In May 2018, it was reported the brothers were planning to construct five identical mansions on Billinge End Road, an exclusive countryside area on the outskirts of Blackburn. This development required the demolition of eight existing homes and a tennis court.{{Cite news |date=2018-05-29 |title=Anger over Euro Garages brothers' plans to build 5 identical 'McMansions' in Blackburn |url=https://www.lancashiretelegraph.co.uk/news/16256538.euro-garages-pairs-plans-5-mcmansions-blackburn/ |access-date=2024-08-31 |work=Lancashire Telegraph |language=en-GB |issn=0307-1235}} The project, dubbed "McMansions" by the local press, sparked complaints from residents who felt the new buildings were out of place and not in-keeping with the local area.{{Cite web |last=Jolly |first=Bradley |date=2024-02-06 |title=Asda billionaire brothers infuriate locals with plans for 'monstrous McMansions' |url=https://www.mirror.co.uk/news/uk-news/asda-billionaire-brothers-infuriate-locals-32062350 |access-date=2024-02-08 |website=The Mirror |language=en}}

In May 2025, the Sunday Times Rich List valued their combined net worth at £6 billion, making them the 32nd wealthiest family in the UK.{{Cite news |title=Issa brothers climb Sunday Times Rich List despite EG Group departures |url=https://www.lancashiretelegraph.co.uk/news/25166248.blackburn-issa-brothers-climb-sunday-times-rich-list/ |archive-url=http://web.archive.org/web/20250517011724/https://www.lancashiretelegraph.co.uk/news/25166248.blackburn-issa-brothers-climb-sunday-times-rich-list/ |archive-date=2025-05-17 |access-date=2025-05-22 |work=Lancashire Telegraph |language=en}}

In June 2012, whilst Mohsin and Zuber were both Europlast company directors, a worker lost part of his middle finger whilst cleaning a bubblewrap machine at Europlast's plant; the plant had previously been cautioned by the Health and Safety Executive in September 2009 and July 2011 for its health and safety practices.{{Cite web |last=Stuart-Turner |first=Richard |date=2014-07-04 |title=Packaging firm prosecuted after worker loses part of finger |url=https://www.printweek.com/content/news/packaging-firm-prosecuted-after-worker-loses-part-of-finger/ |access-date=2024-08-31 |website=Printweek |language=en}} This story was re-established by the media in October 2020 when it was announced the brothers would be majority stakeholders in Asda.{{Cite news |date=2020-12-18 |title='Appalling' safety at Asda buyers' former company |url=https://www.bbc.co.uk/news/business-55307392 |access-date=2024-08-31 |work=BBC News |language=en-GB}} Also in October 2020, Mohsin and Zuber came under criticism from the media who were examining their tax affairs.{{Cite news |last=Armstrong |first=Ashley |date=5 October 2020 |title=Asda owners Issa brothers 'paid no tax for two years' |newspaper=The Times |url=https://www.thetimes.com/business-money/economics/article/asda-owners-paid-no-tax-for-two-years-v0tm3gbfd |url-access=subscription}}{{Cite news |last=Armstrong |first=Ashley |date=12 October 2020 |title=Asda's parent company will be based in Jersey tax haven |newspaper=The Times |url=https://www.thetimes.com/uk/politics/article/asdas-parent-company-will-be-based-in-jersey-tax-haven-75rvtns5t |url-access=subscription}}

In October 2022, the brothers faced criticism for borrowing tens of millions of pounds interest-free from EG Group to buy two private jets.{{Cite news |last1=Smith |first1=Robert |last2=Wiggins |first2=Kaye |date=2022-10-28 |title=Issa brothers bought private jets with interest-free loans from EG Group |url=https://www.ft.com/content/30e0132f-afad-42d3-a9e6-9bfc91c1a8e3 |access-date=2025-03-17 |work=Financial Times}} In May 2024, the brothers borrowed an additional £7 million from EG Group to cover private jets.{{Cite web |last=Hill |first=Eloise |date=2024-05-03 |title=Issa brothers borrow £7m more from EG Group to cover private jets - Retail Gazette |url=https://www.retailgazette.co.uk/blog/2024/05/issa-brothers-private-jets/ |access-date=2024-09-03 |language=en-GB}}

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Category:1971 births

Category:1972 births

Category:Living people

Category:English people of Indian descent

Category:English people of Gujarati descent

Category:English Muslims

Category:British businesspeople of Indian descent

Category:21st-century English businesspeople

Category:English billionaires

Category:Conservative Party (UK) donors

Category:People from Blackburn

Category:Commanders of the Order of the British Empire

Category:Business duos

Category:Asda people