Mohsin and Zuber Issa | |
|---|---|
| Born | Mohsin: July 1971 Zuber: June 1972 Blackburn, Lancashire |
| Education | Witton Park High School |
| Occupation | Entrepreneurs |
| Known for |
|
Mohsin IssaCBE andZuber IssaCBE areBritishbillionaire brothers and businessmen who foundedEuro Garages (later renamed EG Group) in 2001, aBlackburn-based operator offilling stations, convenience stores and food service providers across Europe, the United States and Australia.[1]
In October 2020, as part of a consortium withTDR Capital, the brothers became majority stakeholders in the British supermarket chainAsda.[2] From August 2021 to September 2024, Mohsin served as Asda's chief executive.[3]
As of April 2025, Mohsin is a minority owner of Asda, whilst Zuber has since sold his shareholding.[4] Zuber is the owner and chief executive of his separate business,EG On the Move.[5] The brothers collectively own half of the EG Group business, and both remain on its board as non-executive directors.[6]
Mohsin Issa was born in July 1971, and Zuber Issa in June 1972 inBlackburn,Lancashire inNorth West England into anIndianGujaratiMuslim family[7][8] to parents Vali and Zubeda who came to the United Kingdom fromBharuch,Gujarat, India in the 1960s to work in thetextile industry, and then ran a petrol station.[9] They were educated atWitton Park Academy.[10] Their childhood was a modest one, growing up in a terraced house in Blackburn.
After leaving school, the brothers worked in theclothing industry for a short time. In 1988/90, Zuber, aged around 17 or 18, purchased a news kiosk inPreston called Euro News, which he later expanded into a newsagent chain in busy mall locations in the North-West of England.[11][12] In 1993, Mohsin co-founded the plastic-packaging firm Europlast alongside older brother Zakir, of which Zuber would become a shareholder in 1998.[13]
“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 theBusiness and Trade Select Committeeon Tuesday 19 December 2023.
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.[14] They co-founded Euro Garages in 2001, with the acquisition of a single petrol station inBury, Greater Manchester.[15]
Euro Garages expanded as oil majors (such asEsso) offloaded their forecourt sites, with Euro Garages using these acquisitions to expand retail and food convenience offerings.[16][17]
Prior to the Asda acquisition, Mohsin ran the business day-to-day, whilst Zuber was responsible for strategy and acquisitions.[14]
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 separateEG On the Move business.[18]
In October 2020,Walmart announced an agreement to sell a majority stake in British supermarket chainAsda to a consortium of the Issa brothers andprivate equity firmTDR Capital.[2] In August 2021, Roger Burnley unexpectedly stepped down as Asda's chief executive, with Mohsin operating Asda's day-to-day business going forward.[19]
On 19 July 2023, Mohsin appeared before theCommons'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.'[20]
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.[21] 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.[22] It was reported that the equity was worth £500 million.[22]
In March 2024, Mohsin told theBBC 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.[23]
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.[24]
In September 2024, it was announced that Mohsin Issa would step-down as Asda's chief executive, withLord 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 brandCastore.[25] They also own the Stanley House Hotel & Spa in Lancashire.[26]
In 2021, the brothers tried to acquire the fashion retailerTopshop, but lost out toASOS.[27] In 2022, they attempted to acquire pharmacy chainBoots, but its American ownersWalgreens decided not to sell it, and took it off the market.[28] In 2023, the brothers emerged as potential bidders forSubway, however it would end up being sold toRoark Capital Group.[29] Attempts to acquireCaffè Nero in the early 2020s were not successful.[30]
Since April 2022, Zuber Issa has independently operated a standalone supermarket in Blackburn, called Euro Grocers.[31]
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.[32]
In October 2024, Mohsin invested £10 million inApplied Nutrition, as it prepared to go public on theLondon Stock Exchange.[33]
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.[34]
In June 2018, the brothers receivedErnst & Young's 'Entrepreneur of the Year' award.[35] In October 2020, the Issas were each appointedCommander of the Order of the British Empire (CBE) in the year'sBirthday Honours for services to business and charity.[36]
Mohsin and Zuber established the Issa Foundation in March 2016.[37] In December 2020, their foundation revealed plans to build a mosque inBlackburn on the site of the former Westholme Nursery School; these plans were granted permission in March 2021.[38][39] 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.[40]
Mohsin Issa's first marriage was to Shamin, with the couple having a son and a daughter.[41] In January 2024, it was reported that Mohsin Issa was in a relationship with anErnst & Young partner, which had resulted in Ernst & Young removing themselves as Asda's auditors in July 2023.[42] 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.[43] In October 2024, it was reported that Price was awarded damages byAssociated Newspapers after two inaccurate stories were published about the affair in theDaily Mail.[44]
Zuber Issa is married to Asma, with the couple having four children.[45]
In November 2017, the brothers invested in a £25 million mansion inKnightsbridge, in Central London.[46] 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.[47] 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.[48]
In May 2025, theSunday Times Rich List valued their combined net worth at £6 billion, making them the 32nd wealthiest family in the UK.[49]
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 theHealth and Safety Executive in September 2009 and July 2011 for its health and safety practices.[50] This story was re-established by the media in October 2020 when it was announced the brothers would be majority stakeholders in Asda.[51] Also in October 2020, Mohsin and Zuber came under criticism from the media who were examining their tax affairs.[52][53]
In October 2022, the brothers faced criticism for borrowing tens of millions of pounds interest-free from EG Group to buy two private jets.[54] In May 2024, the brothers borrowed an additional £7 million from EG Group to cover private jets.[55]
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