TDR Capital to acquire an additional stake in Asda from Mohsin Issa.

TDR Capital, a private equity firm, agreed to acquire an additional stake in Asda, a supermarket and petrol station chain, from Mohsin Issa. Financial terms were not disclosed. “By combining our investment and sector expertise with Asda’s heritage of delivering value for customers, we have already made significant progress in transforming Asda. We have added a scale convenience business, grown Asda’s store footprint from 623 to 1.2k stores and food-to-go sites, and launched a hugely successful loyalty app, which now has six million active customers, accounting for around half of total sales. We remain focused on investing in Asda’s stores and online, as well as its colleagues through the highest pay in the traditional supermarket sector, to drive sustainable, long-term growth,” Gary Lindsay and Tom Mitchell, TDR Capital Managing Partners.