Asda owners the Issa brothers have unveiled plans to overtake fellow Big 4 grocer Sainsbury’s as the second biggest supermarket in the UK.
Speaking to The Sunday Times, Mohsin Issa said: “We [Mohsin and Zuber Issa] are happy to commit whatever we need to get to that position. It’s not like we have got a clear five-year ‘get out’ plan; we and TDR have bought this business for the long term.”
The move follows the £6.8 billion acquisition of Big 4 grocer Asda by private equity firm TDR Capital from Walmart over a year ago.
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According to the billionaire brothers, it is shifting its focus towards improving product quality, and revealed they want to inject greater vibrancy into Asda’s 581 sites.
In a bid to take over Sainsbury’s position, Asda aims to expand its convenience arm in the long term, following its purchase of healthy fast food chain Leon and bakery Cooplands.
The billionaire brothers also revealed it has appointed 150 specialist in-store greengrocers in its UK stores as part of a £9 million investment to increase the choice and quality of fresh fruit and vegetables available in store.
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