Mohsin Issa, ex-CEO of Asda, invests £10m in Applied Nutrition, marking his first significant business move post-Asda.
- Through Boulder Investco Limited, Issa acquires new shares in the Liverpool-based protein supplement company.
- The investment positions Issa among prominent North West entrepreneurs backing the brand for a London stock market listing.
- Issa joins notable investors like Tom Morris and George Downing, collectively aiming for a 7% stake in Applied Nutrition.
- The move aligns with Issa’s passion for supporting UK businesses and fostering growth and job creation.
Asda’s former chief executive, Mohsin Issa, has made a substantial £10 million investment in the sports supplement brand Applied Nutrition. This transaction represents Issa’s first major business venture since his departure from the supermarket giant. Through his investment vehicle, Boulder Investco Limited, Issa has acquired new shares in the Liverpool-based company, which specialises in protein supplements. The deal was first reported by the Telegraph, highlighting Issa’s involvement in the company’s strategic expansion.
Applied Nutrition, which has already secured JD Sports as a major shareholder holding 32% of its shares, is set to enhance its market presence with Issa’s backing. Andy Bell, founder of AJ Bell, serves as the company’s current chairman, adding further credibility to its leadership. This investment also places Issa among a group of four distinguished entrepreneurs from the North West of England, who are planning to support the brand in its forthcoming listing on the London stock market.
Joining Issa in this venture are Tom Morris, founder of Home Bargains, and George Downing, a prominent property mogul. Together, these investors aim to collectively acquire a 7% shareholding in the company. This collaborative investment effort underscores a shared vision among these business leaders to cultivate a thriving enterprise capable of achieving substantial growth in the competitive nutrition sector.
Mohsin Issa’s transition from his role at Asda to focus on his business, EG Group, has not diminished his active participation in the retail sector. Despite stepping down, he retains co-ownership of Asda and continues to contribute to its board decisions. His latest investment exemplifies his ongoing commitment to nurturing UK enterprises, with an emphasis on stimulating economic growth and creating employment opportunities.
In a statement issued alongside his brother Zuber Issa, Mohsin affirmed their dedication to “backing great entrepreneurs and helping them to build strong UK businesses that drive growth and create jobs.” Although Zuber Issa has not invested in Applied Nutrition at this point, the brothers’ collective ethos remains a driving force behind their business endeavours.
Mohsin Issa’s investment in Applied Nutrition marks a strategic post-Asda move, highlighting his continued influence in the business world.
