Mohsin and Zuber Issa
| Company type | Private |
|---|---|
| Industry | Retail, Petrol stations, Food service |
| Founded | 2001 |
| Founder | Mohsin Issa, Zuber Issa |
| Headquarters | Blackburn , United Kingdom |
Area served | Europe, United States, Australia |
Key people | Mohsin Issa (Co-founder, Non-executive director), Zuber Issa (Co-founder, Non-executive director) |
| Products | Petrol stations, Convenience outlets, Food service businesses |
Mohsin Issa CBE and Zuber Issa CBE are British billionaire siblings and business founders who established EG Group (initially known as Euro Garages) in 2001. Based in Blackburn, the company operates petrol stations, convenience outlets, and food service businesses throughout Europe, the United States, and Australia.
In October 2020, partnering with TDR Capital, they acquired a controlling interest in the UK supermarket chain Asda. Mohsin held the position of Asda's chief executive from August 2021 until September 2024.
As of April 2025, Mohsin retains a minority shareholding in Asda, whereas Zuber has divested his ownership. Zuber now leads his distinct enterprise, EG On the Move, serving as both owner and CEO. Together, the brothers maintain a 50% stake in EG Group and continue to serve as non-executive directors on its board.
Early lives
Mohsin Issa (born July 1971) and Zuber Issa (born June 1972) originate from Blackburn, Lancashire, in the North West England region. They were raised in a British Indian Gujarati Muslim household. Their parents, Vali and Zubeda, emigrated from Bharuch, Gujarat, India during the 1960s, initially employed in textiles before managing a petrol station. The brothers attended Witton Park Academy and grew up modestly in a terraced home in Blackburn.
Careers
Following their education, both brothers briefly entered the clothing sector. Between approximately 1988 and 1990, Zuber acquired a newsstand called Euro News located in Preston, which he expanded into a network of newsagents across North-West England. In 1993, Mohsin co-established Europlast, a plastic packaging company, alongside their elder brother Zakir; Zuber became a shareholder five years later in 1998.
Euro Garages / EG Group
Prior to launching Euro Garages, the brothers leased a garage and saved funds to purchase their initial petrol station. In 2001, they founded Euro Garages by acquiring one petrol station in Bury, Greater Manchester. The business grew rapidly as major oil companies such as Esso divested their forecourt properties, allowing Euro Garages to expand its retail and food convenience portfolio substantially.
Before taking over Asda, Mohsin was responsible for day-to-day operational management while Zuber concentrated on strategic planning and acquisitions. In June 2024, reports emerged that Zuber intended to resign from his co-executive role at EG Group to focus on his separate venture, EG On the Move.
Asda
In October 2020, Walmart agreed to sell a majority stake in the British supermarket chain Asda to a consortium led by the Issa brothers alongside private equity firm TDR Capital. Following Roger Burnley's resignation as CEO in August 2021, Mohsin Issa assumed responsibility for Asda’s daily management.
On 19 July 2023, Mohsin Issa testified before the UK Commons' Business and Trade Select Committee where he faced scrutiny over issues related to fuel pricing, financial matters, and employee treatment.
By December 2023, media outlets reported tensions between Mohsin and Zuber Issa; however, insiders close to them denied such claims. In February 2024, Zuber sought to divest his 22.5% shareholding in Asda—worth approximately £500 million—to pursue other business interests.
In March 2024, Mohsin announced an organizational "reset" at Asda with plans to recruit a new CEO while rejecting any suggestions of disagreement with Zuber. By June 2024, Zuber confirmed selling his stake to TDR Capital, which would raise the private equity firm’s holding to 67.5% by the third quarter of 2024.
In September 2024, Mohsin stepped down as CEO of Asda; leadership duties were assumed by Lord Stuart Rose along with Rob Hattrell from TDR Capital.
Additional Ventures
The Issa brothers, through their Monte Group enterprise, hold investments in the sports apparel company Castore and possess ownership of the Stanley House Hotel & Spa located in Lancashire.
In 2021, they made a bid to acquire the fashion retailer Topshop but were outbid by ASOS. The following year, they showed interest in purchasing the pharmacy chain Boots, although its parent company, Walgreens, ultimately removed it from the market. In 2023, they emerged as potential purchasers of the sandwich franchise Subway, which was eventually acquired by Roark Capital Group. Their earlier attempts to take over the coffee chain Caffè Nero during the early 2020s did not come to fruition.
Since April 2022, Zuber Issa has been managing Euro Grocers, an independent supermarket based in Blackburn.
In July 2023, the brothers committed £30 million in funding to HVS, a UK-based firm focused on developing hydrogen fuel cell trucks with zero emissions.
Mohsin Issa invested £10 million in Applied Nutrition in October 2024 ahead of the company's initial public offering on the London Stock Exchange.
In November 2024, Mohsin along with Victoria Price launched Boulder Investco, a private equity fund dedicated to supporting rapidly expanding UK startups, including Manchester’s second-hand clothing marketplace GoThrift.
Recognitions
The Issa brothers were honoured with Ernst & Young’s 'Entrepreneur of the Year' award in June 2018. Later, in October 2020, both were appointed Commanders of the Order of the British Empire (CBE) during the 2020 Birthday Honours, acknowledging their contributions to business and philanthropy.
Philanthropy
The Issa Foundation was founded by Mohsin and Zuber in March 2016. In December 2020, it revealed plans for constructing a mosque on the site of the former Westholme Nursery School in Blackburn; planning permission was granted by March 2021. However, in August 2024, enforcement action was taken against the Issa Foundation concerning noise complaints at the former St. Mary’s College building in Blackburn.
Personal Details
Mohsin Issa's first marriage was to Shamin, with whom he has two children—a son and a daughter. Reports surfaced in January 2024 that Mohsin was involved with an Ernst & Young partner, a relationship that led EY to resign as Asda’s auditor by July 2023. The partner, Victoria Price, met Mohsin at an EY awards event in June 2018 and never served Asda as a client. In October 2024, Price was awarded damages from Associated Newspapers following false reports about this relationship published in the Daily Mail.
Zuber Issa is married to Asma and they have four children together.
In November 2017, the brothers invested £25 million in acquiring a Knightsbridge mansion in central London. By May 2018, they had plans for five identical mansions on Billinge End Road near Blackburn—a development requiring demolition of eight houses and a tennis court. This project was labelled "McMansions" by local media and met with objections from residents regarding its compatibility with the neighbourhood.
As of May 2025, the Sunday Times Rich List estimated their combined wealth at £6 billion, placing them as the 32nd richest family in the United Kingdom.
Disputes
In June 2012, while serving as directors at Europlast, Mohsin and Zuber were linked to an incident where an employee lost part of his middle finger while operating a bubblewrap machine at the company’s facility. The plant had previously received Health and Safety Executive warnings in 2009 and 2011. This episode resurfaced publicly in October 2020 when the brothers became majority owners of Asda. During that same month, their tax arrangements came under examination amid reports revealing periods without tax payments and Asda’s parent company being registered in Jersey for tax purposes.
In October 2022, criticism arose after it was revealed that the Issa brothers had borrowed tens of millions of pounds interest-free from EG Group to finance two private jets. By May 2024, they had secured an additional £7 million loan from EG Group for these aircraft acquisitions.