Who are Mohsin and Zuber Issa and what is their net worth? | The Sun
MOHSIN and Zuber Issa forms a hugely successful brand of fuel filing stations and convenience stores in the early 2000s.
They now hold a majority stake in one of Britain's biggest supermarket chains. Here's what we know about them.
Who is Mohsin Issa?
Mohsin Issa is a 49-year-old British billionaire and businessman from Blackburn, born in July 1971.
Along with his brother Zuber he founded Euro Garages, a chain of petrol filling stations in the United Kingdom and across Europe.
The company, which was initially called Euro Garages, was founded in 2001 following the acquisition of a single petrol station in Bury, Manchester which cost £150,000.
The Issa brothers own and operate nearly 6,000 sites across 10 countries, including in Europe, the US and Australia.
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Who is Zuber Issa?
Zuber, 48, was born in June 1972.
Their parents travelled from India in the 60s to the UK to work in the textile industry.
They hit upon the idea of transforming the filling station into a “shopping destination”.
It turned out to be a brilliant business idea and since then their petrol station empire has since expanded to nearly 6,000 forecourts across 10 countries.
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What is their net worth and what businesses do they own?
The brothers joint net worth is reportedly £4.73billion, as of March 2023.
The Issa brothers are co-founders of EG group, a successful brand which runs fuel filling stations, convenience stores and fast food restaurants across the world.
They founded the business as Euro Garage in Blackburn in 2001. The company is now one of the largest privately owned businesses in the UK.
The company announced profits of around £27billion in 2022, including earnings of over £1billion.
In 2020, as part of a consortium with private equity firm TDR Capital, they bought Asda from Walmart for £6.8billion, becoming majority stakeholders in the supermarket chain.
Their aim was to drive growth at Britain's third-biggest supermarket chain by expanding its presence into smaller neighbourhood shops to add to its large supermarket format, bringing it more in line with competitors Tesco and Sainsbury's which offer both.
It was reported on March 27, 2023, that the brothers were looking to acquire fast food restaurant chain Subway, which has an asking price of £8billion.
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