Mohsin Issa

Mohsin Issa CBE (born July 1971)[1] is a British billionaire, businessman and founder of Euro Garages, a chain of petrol filling stations that operate in Europe.[2] As part of a consortium with his brother Zuber and TDR Capital, he will also become the majority stakeholder in Asda, a deal announced in October 2020 to acquire the supermarket chain from Walmart is approved by regulators in the first half of 2021.[3]

Mohsin Issa

CBE
BornJuly 1971 (age 49)
Blackburn, England
CitizenshipBritish
OccupationOwner of Euro Garages
Net worth GB£3.56 billion (Sunday Times Rich List, 2020)
Spouse(s)Shamin Issa
Children2
RelativesZuber Issa (brother)
HonoursCBE

Early life

Issa was born in Blackburn in 1971. His parents, Vali and Zubeda, came from Gujarat, India, in the 1960s, to the United Kingdom to work in the textile industry and then running a petrol station.[4] He was educated at Witton Park High School.[5] His childhood was a modest one growing up in a terraced house in Blackburn.

Career

Before founding Euro Garages, Issa and his brother, Zuber, took out a lease on a garage, and saved up the money to buy their first petrol station.[6] Issa co-founded Euro Garages with his brother, Zuber, in 2001, with the acquisition of a single petrol station in Bury, Greater Manchester.[7]

Issa runs the business day to day while his brother, Zuber, is responsible for strategy and acquisitions.[6] The company grew through a series of acquisitions.[8] In February 2018, it was announced that Euro Garages would acquire 762 convenience stores in the United States from Kroger.[9]

In October 2020, Walmart announced an agreement to sell a majority stake in Asda to a consortium of Issa, his brother and private equity firm TDR Capital.[3]

Along with his brother, Issa was appointed Commander of the Order of the British Empire (CBE) in the 2020 Birthday Honours for services to business and charity.[10]

Controversy

Zuber Issa and his brother Mohsin Issa have come under criticism for their tax affairs[11][12] along with having "appalling" safety standards at a company they co-owned[13]

Personal life

Issa is married to Shamin, and they have a son and a daughter, both of whom work for Euro Garages.[14] He still lives in Blackburn and alongside his brother are building five mansions for themselves and their relatives just ten minutes' drive from where they grew up. He along with his brother invested in a £25m mansion in Knightsbridge, in Central London.[15]

References
  1. "Mohsin ISSA – Personal Appointments". Retrieved 2 March 2018.
  2. "About Us". EG Group. 22 August 2017. Retrieved 2 March 2018.
  3. "Asda bought by billionaire brothers in £6.8bn deal". BBC News. 2 October 2020. Retrieved 2 October 2020.
  4. Watts, Robert; McCall, Alastair (7 May 2017). "High-octane rise of brothers' firm shows family value". The Sunday Times. Retrieved 2 March 2018.
  5. Neate, Rupert (2 October 2020). "New Asda owners Mohsin and Zuber Issa – the Blackburn billionaire brothers". The Guardian. Retrieved 2 October 2020.
  6. Orton-Jones, Charles (29 November 2010). "Band of brothers: Why sibling-run firms work". Real Business. Retrieved 2 March 2018.
  7. George, Thomas (2 October 2020). "The billionaire brothers who built an empire from a Bury petrol station and have just bought ASDA for £6.8bn". Manchester Evening News. Retrieved 2 October 2020.
  8. Ltd, Insider Media. "Acquisitions drive growth at Euro Garages". Insider Media Ltd. Retrieved 2 March 2018.
  9. "Blackburn-based Euro Garages to expand into US with $2bn acquisition". Lancashire Telegraph. Retrieved 2 March 2018.
  10. "No. 63135". The London Gazette (Supplement). 10 October 2020. p. B10.
  11. https://www.thetimes.co.uk/article/asda-owners-paid-no-tax-for-two-years-v0tm3gbfd
  12. https://www.thetimes.co.uk/article/asdas-parent-company-will-be-based-in-jersey-tax-haven-75rvtns5t
  13. https://www.bbc.co.uk/news/business-55307392
  14. Evans, Peter (2 June 2019). "Petrol station brothers filled with drive". The Times. Retrieved 4 October 2019.
  15. Ralph, Alex. "Brothers from 'wrong side of Pennines' who took over Asda". ISSN 0140-0460. Retrieved 7 January 2021.
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