Mohsin Issa, a name synonymous with innovation and entrepreneurial success, has carved a remarkable path in the business world. From humble beginnings in Blackburn, Lancashire, to becoming a billionaire co-owner of Asda and the sole CEO of EG Group, Issa’s journey is a testament to resilience, vision, and strategic acumen. His recent ventures into the UK start-up ecosystem further underscore his commitment to fostering innovation and economic growth. This article delves into Issa’s career milestones, his leadership philosophy, and his latest initiatives that continue to shape the business landscape.
From Blackburn to Billionaire: The Early Years
Mohsin Issa, born in July 1971, grew up in a modest Indian Gujarati Muslim family in Blackburn. His parents, Vali and Zubeda, immigrated to the UK from Bharuch, Gujarat, in the 1960s, working in the textile industry before running a petrol station. This early exposure to entrepreneurship likely influenced Mohsin and his younger brother, Zuber, who were educated at Witton Park Academy. Their childhood, marked by hard work and determination, laid the foundation for their future success.
The brothers’ first foray into business began in the late 1980s when Zuber purchased a news kiosk in Preston, which he expanded into a chain of newsagents. Mohsin, meanwhile, co-founded Europlast, a plastic-packaging firm, in 1993. These early ventures honed their business skills and set the stage for their most significant achievement: the founding of Euro Garages in 2001.
Building an Empire: The Rise of EG Group
Euro Garages, later renamed EG Group, started with a single petrol station in Bury, Greater Manchester. Under Mohsin’s leadership, the company transformed the traditional petrol forecourt model by integrating convenience stores and food service offerings. This innovative approach attracted major partnerships with brands like Starbucks and KFC, propelling EG Group into a global powerhouse with operations across Europe, the United States, and Australia.
Mohsin’s role as the operational leader of EG Group was pivotal in its expansion. While Zuber focused on strategy and acquisitions, Mohsin ensured the day-to-day efficiency and growth of the business. Their combined efforts turned EG Group into a multi-billion-dollar enterprise, earning them accolades such as Ernst & Young’s ‘Entrepreneur of the Year’ award in 2018 and Commander of the Order of the British Empire (CBE) honors in 2020.
The Asda Chapter: A New Challenge
In October 2020, Mohsin and Zuber, alongside private equity firm TDR Capital, acquired a majority stake in Asda for £6.8 billion. This marked a significant milestone in their careers, as they ventured into the competitive supermarket sector. Mohsin took on the role of Asda’s CEO in August 2021, overseeing the company’s operations during a period of transformation.
Under his leadership, Asda expanded its convenience store footprint, launched a successful loyalty app with over six million users, and invested heavily in IT infrastructure. However, Mohsin’s tenure was not without challenges. He faced scrutiny from the Business and Trade Select Committee over fuel pricing and staff treatment, highlighting the complexities of managing a retail giant.
In September 2024, Mohsin stepped back from his executive role at Asda to focus solely on EG Group. He remains a co-owner and non-executive director of Asda, ensuring his continued influence on the supermarket’s strategic direction.
Venturing into Start-Ups: Boulder Investco
Mohsin’s entrepreneurial spirit did not wane after his departure from Asda. In November 2024, he launched Boulder Investco, a private investment fund based in Jersey, aimed at supporting fast-growing UK start-ups. This initiative reflects his passion for nurturing innovation and creating opportunities for emerging businesses.
Boulder Investco has already made significant investments, including a stake in GoThrift, a Manchester-based second-hand clothing platform, and a £10 million investment in Applied Nutrition, a Liverpool-based protein supplement company. These ventures align with Mohsin’s vision of supporting sustainable and high-growth industries.
Victoria Price, Mohsin’s partner and a seasoned financial expert, plays a crucial role in managing Boulder Investco. Her experience in private capital and entrepreneurship complements Mohsin’s business acumen, making the fund a promising player in the UK start-up ecosystem.
A Legacy of Innovation and Philanthropy
Beyond business, Mohsin Issa and Zuber have made significant contributions to their community through the Issa Foundation. Established in 2016, the foundation focuses on charitable initiatives, including the construction of a mosque in Blackburn. Their philanthropic efforts underscore their commitment to giving back to the community that shaped their early lives.
Conclusion: A Visionary Leader for the Future
Mohsin Issa’s journey from a modest upbringing in Blackburn to becoming a billionaire entrepreneur is a story of vision, hard work, and resilience. His leadership at EG Group and Asda has redefined retail and convenience services, while his latest venture, Boulder Investco, highlights his dedication to fostering innovation and entrepreneurship in the UK.
As Mohsin Issa continues to shape the future of business, his legacy serves as an inspiration to aspiring entrepreneurs worldwide. Whether through his strategic investments, philanthropic endeavors, or transformative leadership, Mohsin Issa remains a driving force in the global business landscape. His story is far from over, and the world eagerly awaits the next chapter in his remarkable career.
