Issa brothers plan to open 300 Asda convenience stores
Asda, which is the UK’s third largest supermarket, was purchased by the Issa brothers’ and TDR Capital in a £6.8bn takeover deal from Walmart earlier this year
Asda’s new owners, the Issa brothers’ are reportedly planning to open more than 300 convenience stores under the supermarket’s name across their EG Group forecourts.
According to The Times, the pair are looking to roll out the concept after they previously launched five ‘Asda on the Move’ stores as a trial across their EG petrol sites. It is understood they will open the new stores over the next few years.
Asda, which is the UK’s third largest supermarket, was purchased by the Issa brothers’ and TDR Capital in a £6.8bn takeover deal from Walmart earlier this year.
The alleged project follows a similar move by rival store Morrisons, who has also found itself at the centre of a billion pound takeover deal.
Earlier this month, Morrisons accepted a £7bn offer from Clayton, Dubilier and Rice (CD&R).
As part of its conditions, the US private equity firm also intends to open a chain of Morrisons convenience stores at the 900-plus petrol stations operated by Motor Fuel Group, which CD&R has owned since 2015.
Morrisons, which is headed by David Potts, has almost 500 shops and more than 110,000 staff.
Retail Sector has contacted Asda for a comment.
