Blackburn’s Issa Brothers Try To Buy Boots For £7bn

boots the chemist

Two Blackburn born billionaire brothers who acquired Asda from Walmart in 2020, are now in early discussions to buy Boots for £7bn.

According to Retail Gazette, the health and beauty conglomerate is understood to have placed a £7billion price tag for the chain, which includes its operations in the UK, Ireland and Thailand, as well as the No7 beauty brand.

The 172-year-old pharmacy chain has 2,200 stores and 550 opticians in the UK, employing around 51,000 people.

Zuber and Mohsin Issa, started their business with a single petrol forecourt in Bury, Greater Manchester, in 2001. The Sunday Times now values their fortune at £3.56bn.

The brothers acquired Asda, alongside their partners, the private equity firm TDR Capital, in a £6.8 billion deal that was mostly financed with asset sales and £3.7 billion of debt.

Asda’s former parent company Walmart still holds a minority stake in the supermarket chain.

They donate 2.5% of their wealth each year to their own charitable foundation, which funds projects in the UK and abroad. In 2019 they donated £20m.

They courted controversy in their home town when they bought eight homes, demolished them and began building five mansions, raising the ire of neighbours. In 2017, they reportedly bought a £25m home in London’s upmarket Knightsbridge.

This website has previously reported on the activities of the Issa brothers. In a post dated 17.12.2021 we revealed their plans for a massive Islamic cemetary on green belt land in Lancashire.

We stated that “An organisation called the Issa Foundation is proposing to create an Islamic cemetery and funeral facilities to serve the Muslim population of adjacent towns. The Issa Foundation wants to purchase land between Blackburn and Oswaldtwistle, a number of fields totaling 84 acres (roughly 40 football pitches), currently this land is classed as ‘green-belt’ space”.

The post can be viewed here:

Boots the Chemists 1935.

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