Issa Brothers (TDR Capital)
British billionaire brothers Mohsin and Zuber Issa who co-own Asda supermarkets alongside TDR Capital private equity firm.
Company Type
private
Founded
2001
Headquarters
Blackburn, Lancashire, United Kingdom
Revenue
not publicly disclosed
Primary Market
United Kingdom
About Issa Brothers (TDR Capital)
The Issa brothers' business empire spans two main sectors: fuel retail and convenience stores through EG Group, and supermarket retail through their stake in Asda. EG Group operates over 6,000 sites across 10 countries, including petrol stations, convenience stores, and food service outlets.
EG Group's business model focuses on integrating fuel retail with convenience store offerings, food service, and other ancillary services. The company has acquired numerous retail chains and brands across different markets, including the acquisition of Kroger's convenience store business in the United States.
Asda, under the Issa brothers' leadership (and now primarily TDR Capital's ownership), has focused on competing with other UK supermarkets through price competitiveness and expanding its online presence and delivery capabilities.
The brothers have been known for their aggressive acquisition strategy and willingness to invest heavily in business expansion and modernization. Their approach has emphasized operational efficiency and integration across their various business interests.
History of Issa Brothers (TDR Capital)
Mohsin and Zuber Issa founded EG Group in 2001 with a single petrol station in Bury, Greater Manchester. The brothers, whose family originally came from Gujarat, India, built the business through strategic acquisitions and organic expansion, transforming it into one of the world's largest independent fuel station and convenience store operators.
Throughout the 2000s and 2010s, EG Group expanded aggressively across the United Kingdom and internationally, acquiring existing petrol station chains and convenience store operations. The company expanded into Europe, the United States, and Australia, establishing a presence in over 10 countries with more than 6,000 sites.
The brothers' breakthrough deal came in 2020 when they led a consortium with TDR Capital to acquire Asda, the UK's third-largest supermarket chain, from Walmart for approximately $8.8 billion. This acquisition marked their entry into the large-scale supermarket retail sector and represented one of the largest private equity deals in UK retail history.
In 2021, Mohsin Issa became CEO of Asda, though he stepped down from the role in September 2024 to focus on EG Group's operations and strategic direction.
Brands Owned by Issa Brothers (TDR Capital)
Issa Brothers (TDR Capital) owns 1 brand in our database.
Issa Brothers (TDR Capital) Ownership: Pros & Cons
Advantages
- +Diversified business model across fuel retail and supermarket sectors
- +Global presence with operations in multiple countries provides geographic diversification
- +Strong acquisition track record and dealmaking expertise
- +Established brand recognition in UK retail market
- +Potential IPO could provide significant capital for further expansion
Considerations
- -Recent separation of brothers' business interests may create operational complexity
- -Highly competitive retail and fuel markets require continuous investment
- -Dependence on fuel sales creates vulnerability to energy market volatility
- -Large debt burden from acquisitions may limit financial flexibility
- -Regulatory scrutiny of large retail acquisitions in key markets
Frequently Asked Questions About Issa Brothers (TDR Capital)
Do the Issa brothers still own Asda?
No, as of November 2024, Zuber Issa sold his stake in Asda to TDR Capital. Mohsin Issa retains a 22.5% stake, while TDR Capital owns 67.5% and Walmart retains 10%.
What is EG Group?
EG Group is a fuel station and convenience store operator founded by the Issa brothers in 2001. The company operates over 6,000 sites across 10 countries and is one of the world's largest independent fuel station operators.
Are the Issa brothers still in business together?
No, the brothers separated their business interests in 2024. Zuber Issa exited Asda and is reportedly pursuing independent dealmaking, while Mohsin Issa continues with EG Group and maintains a minority stake in Asda.
How much did the Issa brothers pay for Asda?
The Issa brothers alongside TDR Capital acquired Asda from Walmart in 2021 for approximately $8.8 billion.
Are the Issa brothers planning an IPO?
Yes, reports suggest the Issa brothers are preparing for a potential initial public offering of EG Group in the United States that could value the company at up to $14 billion.
Jobs at Issa Brothers (TDR Capital)
Latest News About Issa Brothers (TDR Capital)
Related Articles About Issa Brothers (TDR Capital)
View more articles
News & Updates
Monthly M&A Roundup: April 2026 Brand Ownership Changes
Global M&A reached a record $1.3 trillion in Q1 2026, and April is continuing the momentum. McCormick is buying Unilever's food business for $45 billion. Paramount and Warner Bros. Discovery are merging. Here is every major brand ownership shift entering April 2026.
Who Brands StaffApr 12, 2026
m-and-a-roundupacquisitionsnews
Brand History
How Sony Built Its Entertainment Empire
Sony started making rice cookers and radio repair equipment in 1946. Today it owns PlayStation, Columbia Pictures, Sony Music, and the world's largest music publishing catalogue. Here is the full story.
Who Brands StaffMar 30, 2026
sonybrand-historyentertainment-empire
Brand History
The Story Behind the Coca-Cola Acquisition Strategy
Coke, Sprite, Fanta, Minute Maid, Powerade, Dasani, Smartwater, Costa Coffee, Fuze Tea, and over 200 more brands all share one parent. Here is how The Coca-Cola Company quietly became a total beverage company.
Who Brands StaffMar 30, 2026
coca-colabrand-historyacquisitions