Zuber Issa

Zuber Vali Issa CBE (born June 1972)[1] is a British billionaire, businessman and founder of Euro Garages (EG), a chain of petrol filling stations that operate in the United Kingdom and Europe.[2] As part of a consortium with his brother Mohsin and TDR Capital, he is also the majority stakeholder in Asda.[3] EG’s annual sales across 10 countries is currently valued at €20bn.[4]

Zuber Issa
BornJune 1972 (age 48)
Blackburn, England
CitizenshipBritish
OccupationCo-owner of Euro Garages
Net worth GB£3.56 billion (Sunday Times Rich List, 2020)
RelativesMohsin Issa (brother)
HonoursCBE

Early life

Issa was born in Blackburn. His parents, Vali and Zubeda, came from Bharuch Gujarat India to the United Kingdom to work in the textile industry and owned a petrol station.[5] He was educated at Witton Park High School.[6]

Career

Before founding Euro Garages, Zuber Issa and his brother, Mohsin, took out a lease on a garage, and saved up the money to buy their first petrol station.[7]

Zuber co-founded Euro Garages with his brother, Mohsin, in 2001, with the acquisition of a single petrol station in Bury, Greater Manchester. The original site cost £150,000.

Zuber is responsible for strategy and acquisitions while his brother, Mohsin, runs the business day to day.[7] 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 sold their majority stake in Asda to a consortium of Issa, his brother and 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]

References
  1. "Zuber ISSA – Personal Appointments". Companies House. Retrieved 2 October 2020.
  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 202. Retrieved 2 October 2020.
  4. Chambers, Sam. "Zuber and Mohsin Issa: the brothers pumping debt — and doubts". ISSN 0140-0460. Retrieved 7 January 2021.
  5. Watts, Robert; McCall, Alastair (7 May 2017). "High-octane rise of brothers' firm shows family value". The Sunday Times. Retrieved 2 March 2018.CS1 maint: multiple names: authors list (link)
  6. Neate, Rupert (2 October 2020). "New Asda owners Mohsin and Zuber Issa – the Blackburn billionaire brothers". The Guardian. Retrieved 2 October 2020.
  7. Orton-Jones, Charles (29 November 2010). "Band of brothers: Why sibling-run firms work". Real Business. Retrieved 2 March 2018.
  8. "Acquisitions drive growth at Euro Garages". Insider Media. Retrieved 2 March 2018.
  9. Butler, Ben (10 February 2018). "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
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