Two brothers, raised in Blackburn in Muslim family from India, strike deal to buy Asda

2nd October 2020   •   article

by Barfi Culture Team | Twitter: @barfi_culture.
Two self-made tycoons raised in Blackburn in a terraced house have agreed to buy Britain’s third biggest grocer, it was revealed today.

Mohsin and Zuber Issa are part of an expected £6.5 billion takeover of the supermarket giant Asda.

It's even more remarkable since their parents came to Britain from India in the 1960s with little money to their name.

It was announced today that a consortium of Zuber and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda.

Now aged 48 and 49, they started with a single petrol forecourt in Bury, Greater Manchester, which their dad had bought.

They grew their business through renting and buying petrol stations, later forming their company Euro Garages. The EG Group now has almost 6,000 sites across 10 countries, from the UK to the US and Australia. It also runs outlets for Greggs, Starbucks and KFC and employs between 33,000 - 44,000 people.

They say they donate 2.5% of their wealth each year to their own charitable foundation, which funds projects in the UK and abroad.

But The Telegraph reports that the billionaire brothers own scores of petrol stations close to Asda supermarkets, which may spark concern that they are reducing competition.

The deal will catapult the two brothers into being two of Britain's highest profile billionare entrepreneurs.
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