Asda is one of those brands that every British household knows — the bright green logo, the “rollback” prices, and the George clothing range have been part of UK life for decades. But the question of who actually owns Asda today is one that has changed dramatically in recent years, and the current answer might surprise you.
The short answer: Asda is currently owned by TDR Capital (67.5%), Mohsin Issa (22.5%), and Walmart Inc. (10%). Here’s the full story of how a Yorkshire dairy company became one of Britain’s biggest supermarkets — and how it ended up in private equity hands.
Asda — Company Highlights
| Full Name | Asda Stores Ltd |
| Founded | 3rd May 1965 |
| Founders | Asquith brothers & Associated Dairies (Noel Stockdale) |
| Headquarters | Leeds, England, UK |
| Current Owners | TDR Capital, Mohsin Issa, Walmart Inc. |
| Type | Private company |
| Executive Chairman | Allan Leighton (since November 2024) |
| Known For | Low prices, George clothing brand, Asda Express stores |
| No. of Stores | 600+ large-format + 500+ convenience sites |
| UK Market Position | 3rd largest grocer (after Tesco and Sainsbury’s) |
Who Owns Asda?
TDR Capital has completed the acquisition of Zuber Issa’s shares in Asda and has become the majority shareholder with a 67.5% ownership. Mohsin Issa and Walmart Inc. remain co-shareholders in the business.
| Owner / Stakeholder | Stake | Type | Period |
|---|---|---|---|
| TDR Capital | 67.5% | Private equity — majority owner | 2021–present |
| Mohsin Issa | 22.5% | Private co-owner | 2021–present |
| Walmart Inc. | 10% | Minority stake (former full owner) | Retained since 2021 |
| Zuber Issa | 0% | Exited | 2021–2024 |
| Walmart Inc. | 100% | Full owner | 1999–2021 |
The Owners — Who Are They?
TDR Capital
TDR Capital is a UK-based private equity firm. They believed there was scope to unlock operational upside by running Asda as a standalone business — specifically, there was a clear opportunity to grow Asda through building out a proprietary convenience retail business and to launch a loyalty programme to drive incremental sales.
Mohsin Issa
Mohsin Issa, along with his brother Zuber, originally co-bought Asda in 2021. Since the deal was announced, Mohsin Issa stepped away from his executive leadership role to focus on his position as sole chief executive of petrol forecourts business, EG Group.
Walmart Inc.
Walmart sold Asda in February 2021 to the Issa brothers and TDR Capital for £6.8 billion, retaining a 10% equity stake and a seat on the board.
Zuber Issa (Exited 2024)
Zuber Issa sold his stake in Asda and stepped down from his non-executive role on Asda’s board following the completion of the sale.
Key Milestones & History
| Year | Milestone |
|---|---|
| 1949 | Associated Dairies and Farm Stores Ltd formed as a public company in Leeds |
| 1965 | Asda born when the Asquith brothers merged their supermarket business with Associated Dairies |
| 1999 | Asda sold to Walmart for £6.7 billion |
| 2021 | Walmart sold Asda to the Issa brothers and TDR Capital for £6.8 billion |
| 2022 | Asda Rewards loyalty app launched; Asda Express convenience stores opened |
| 2024 | Allan Leighton appointed as Chairman, marking his return to Asda more than 20 years after serving as Chief Executive |
| Nov 2024 | TDR Capital completes acquisition of Zuber Issa’s shares, becoming majority shareholder |
| 2025 | Asda reports adjusted EBITDA of £764 million on sales of £21.0 billion |
Leadership — Then and Now
Allan Leighton — Executive Chairman
In November 2024, Leighton was appointed Executive Chairman of Asda, returning to the business after 24 years. He was Asda’s chief executive from 1996 to 2000, and was instrumental in a dramatic turnaround in the nineties — after staving off bankruptcy, the retailer went on to enjoy an extraordinary period of growth, lowering prices and opening the George fashion brand, before being bought by Walmart in 1999.
Asda plans to promote its next permanent CEO from within its current crop of executives. The Leeds-based supermarket has not had a permanent CEO since the departure of Roger Burnley shortly after its acquisition by the Issa brothers and TDR in 2021.
Current State of the Business
Asda is Britain’s third largest grocer after Tesco and Sainsbury’s. It made adjusted EBITDA of £764 million in 2025, on sales, excluding fuel, of £21.0 billion.
The business operates an estate of more than 600 large-format stores and around 500 convenience sites, supported by a scaled online grocery platform and the well-established George clothing brand.
CEO Allan Leighton’s deliberate price-cutting strategy aims to make Asda 5% to 10% cheaper than traditional rivals in order to win back shoppers, with the plan expected to take up to five years to fully rebuild the business.
My Take on Asda
Asda’s story is one of the most dramatic in British retail. It went from a scrappy Yorkshire dairy company to Walmart’s crown jewel, then back to private hands — loaded with debt and fighting to stay relevant. The Issa brothers era was turbulent, and the Zuber exit was a clear sign that the partnership had run its course. Now with Allan Leighton back at the helm — the man who saved Asda once before — there’s genuine hope. But the challenge is enormous: market share is at its lowest in over a decade, and rivals like Aldi and Lidl aren’t slowing down. TDR Capital is betting big. Whether that bet pays off for Britain’s shoppers remains the real question.
Frequently Asked Questions
Q: Who owns Asda in 2026?
Asda is owned by TDR Capital (67.5%), Mohsin Issa (22.5%), and Walmart Inc. (10%).
Q: Is Asda still owned by Walmart?
Walmart retains a 10% minority stake but has not been the majority owner since 2021.
Q: Who is the CEO of Asda?
Asda currently has no permanent CEO. Allan Leighton serves as Executive Chairman since November 2024, with plans to promote a CEO from within.
Q: When did TDR Capital become the majority owner?
TDR Capital became majority owner in November 2024 after acquiring Zuber Issa’s 22.5% stake.
Q: When was Asda founded?
Asda was officially founded on 3rd May 1965 in Leeds, England.
Q: Is Asda a public or private company?
Asda is a privately owned company — it is not listed on any stock exchange.
Q: What other brands does Asda own?
Asda owns the George clothing brand and operates Asda Express convenience stores across the UK.