Asda private equity owners grilled by MPs as supermarket braces for historic strikes Asda Asda’s private equity owners, TDR Capital, have refuted claims the firm is anti-trade union, as the supermarket braces for historic strike action.
Asda chairman says supermarkets owed ‘debt of gratitude’ as he snubs profiteering claims Retail Asda’s chairman said supermarkets are owed a “great debt of gratitude” as he rebuffed claims that the grocer is profiteering from rising petrol and food prices amid the cost of living crisis. Speaking to LBC, Stuart Rose said that all retailers have seen their profits over the last year go “backwards”. “If you look at [...]
Asda: Billionaire Zuber Issa close to selling £500m stake in supermarket giant to TDR Capital Supermarkets Billionaire Zuber Issa is close to completing talks to sell his £500m stake in Asda to its private equity backer, TDR Capital, according to reports.
Supermarkets behaving badly: Asda and Morrisons bosses back ‘transparent’ fuel pricing model June 27, 2023 Supermarkets bosses have been grilled by MPs on prices at the pump and agreed to consider entering into a fuel model which would give more transparency. The government has been mulling a scheme whereby petrol stations would have to share live prices in efforts to bring more price transparency for drivers – a similar system [...]
Subway: ‘Club’ deal as Advent, Bain and TPG face off with Asda owners in £8bn race for sandwich giant April 19, 2023 A flock of the world’s biggest buyout firms are eyeing the possibility of a joint bid for Subway, joining the owners of Asda in the race to acquire the sandwich chain. Advent International, Bain Capital and TPG are considering teaming up in a so-called “club deal” as the second round of auctioning for the American [...]
EG Group: Issa brothers fry off entire KFC franchise to slash debt mountain December 6, 2023 EG Group, the debt-laden petrol group owned by the billionaire Issa Brothers, has offloaded all of its franchise KFC sites in the UK and Ireland to the US multinational behind the fried chicken empire.
Issa brothers’ LEON to more than double number of Asda coffee kiosks November 21, 2022 LEON is to more than double its self-serve coffee kiosks in the UK over the next couple of months, as the Issa brothers’ on-the-go food operator expands. The chain, which sells healthier alternatives of fast-food and is owned by the billionaire brothers behind supermarket Asda and petrol forecourt operator EG group, is to expand its [...]
RAC: Tesco, Asda, Sainsbury’s and Morrisons are ripping off motorists – but which Big 4 retailer has the cheapest petrol? April 5, 2023 Motoring group RAC today accused Britain’s big four supermarkets of overcharging drivers at the petrol pumps.
Out with the old, in with the Issas: Asda execs quit as supermarket plots 230 petrol station stores September 3, 2021 In the first full quarter trading update since billionaire brothers Mohsin and Zuber Issa bought Asda for £6.8bn last year, the supermarket chain announced two more top executives were leaving, as it ramps up its petrol convenience store business. The UK’s third-largest supermarket today announced that both chief operating officer Anthony Hemmerdinger and chief strategy [...]
Ex-Asda boss secures rescue deal of upmarket online butcher April 24, 2023 The former boss of supermarket Asda has led a rescue of an upmarket online butcher that counts the likes of Harrods and Fortnum & Mason among its customers. Andy Clarke – who was chief executive of Asda from 2010 until 2016 – headed up a group of investors to buy Farmison & Co, which collapsed [...]