16 IN VIEW
ISSA BROTHERS’ NEW STORE PLAN
Supermarket chain Asda, co-owned by the Blackburn-based Issa brothers, has unveiled plans to create 10,000 new convenience store jobs over the next four years as it rolls out its new ‘Express’ store concept.
The group is looking to open 300 convenience stores across the country by 2026 under the Asda Express brand.
With sales in convenience stores forecast to grow by 13 per cent to more than £50bn by 2027, the development of a store network in this market is a key part of Asda’s long-term growth strategy to become the UK’s second largest supermarket.
Asda is looking to bring the Express concept to customers in neighbourhood and residential settings, particularly those areas where there is not one of its stores nearby. The stores will stock around 3,000 products.
Announcing the move, Mohsin Issa said: “A key part of our growth strategy is to provide customers with more opportunities to shop at Asda closer to where they live or work.
“With more than three quarters of the UK population visiting a convenience store in the last 12 months, the potential for growth in this market is significant.
“Our ambition is to become the convenience destination of choice by providing shoppers great value and a comprehensive and convenient range of products and services under one roof.”
The target of 300 Express outlets does not include the convenience stores Asda is acquiring from the Co-op. The supermarket group
Zuber and Mohsin Issa
agreed to buy 132 sites last summer in a deal worth around £600m. The acquisition is currently going through the Competition and Markets Authority’s (CMA) normal competition review process.
Mohsin and his brother Zuber, founders of Euro Garages, which is based in their home town of Blackburn, partnered with London based TDR Capital to acquire Asda in 2020 in a deal which valued the business at £6.8bn.
Last April EG Group unveiled a five-year expansion plan to create 32,000 jobs around the world. It said almost 23,000 of the total jobs would be based in the UK, including new roles at its Lancashire headquarters where it currently employs around 900.
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