The billionaire Issa Brothers have unveiled plans for Asda to overtake rival supermarket Sainsbury’s
Mohsin and Zuber Issa, who bought Asda from Walmart in a £6.8billion deal last year, have outlined how they want it to become the UK’s second biggest supermarket.
The founders, who started their business empire with a single petrol station in Bury, want Asda to focus on improved product quality, open more stand-alone convenience stores and appoint specialist greengrocers at stores.
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Mohsin and Zuber Issa, who founded EG Group, a retailer operating petrol stations and fast food outlets across Europe, the United States and Australia, said they are willing to ‘commit whatever’ to overtake Sainsbury’s, reports Lancs Live.
Speaking to The Sunday Times, Mohsin said: “We are happy to commit whatever we need to get to that position.
“It’s not like we have got a clear five-year ‘get out’ plan; we and TDR have bought this business for the long term.”
In a bid to take over Sainsbury’s position as the UK's second biggest supermarket, Asda aims to expand its convenience arm in the long term, following its purchase of healthy fast food chain Leon and bakery Cooplands.
The brothers also revealed it has appointed 150 specialist in-store greengrocers in its UK stores as part of a £9 million investment to increase the choice and quality of fresh fruit and vegetables available in store.
In February, Asda announced it would double the number of stores stocking its own-brand budget range.
From March 1, the supermarket said it would have full Smart Price and Farm Stores ranges in stock at all 581 of its food stores from the start of March.
Mohsin Issa told The Sunday Times the range would now be expanded to 300 products.
Earlier this week, the siblings were said to be in pole position to buy Boots after a group of major bidders dropped out.
The owners are said to be in the running to acquire the pharmacy giant after a team of interested buyers, Bain Capital and CVC Capital Partners, dropped out of a £6billion deal.
Boots has around 2,200 stores in the UK, employing more than 50,000 people, and a takeover could be worth as much as £10billion.
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