Funds managed by TDR Capital have agreed to acquire Zuber Issa’s shares in Asda. Mohsin Issa remains a co-owner in Asda alongside TDR Capital. In a statement, Asda said: “This brings the ownership of Asda to 67.
5 per cent by TDR Capital, 22.5 per cent by Mohsin Issa, and 10 per cent by Walmart Inc. The transaction is set to complete in Q3 (the third quarter) of 2024.
Advertisement Advertisement Did you know with a Digital subscription to Yorkshire Post, you can get access to all of our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. “TDR Capital invested in Asda alongside the Issa brothers, and together they took majority ownership of the business in June 2021. Since then, together with the other shareholders, TDR has supported Asda to accelerate its strategy, with a particular focus on delivering low prices to customers and expanding into the fast-growing convenience retail segment.
”Gary Lindsay and Tom Mitchell, Managing Partners of TDR Capital, said: “We first invested into Asda over three years ago, seeing a huge opportunity to cement its position as one of the UK’s leading retail brands.” “By combining our investment and sector expertise with Asda’s heritage of delivering value for customers, we have already made significant progress in transforming Asda. We have added a scale convenience business, grown Asda’s store footprint from 623 to 1,200 stores and food-to-go sites, and launched a hugely successful loyalty .