Editing Asda (section)

==== Acquisition by the Issa brothers and TDR Capital ====
In February 2021, [[Mohsin Issa]], [[Zuber Issa]] and [[TDR Capital]] acquired Asda, which at the time was valued at £6.8&nbsp;billion. Walmart retained "an equity investment" in Asda, a seat on the board and "an ongoing commercial relationship".<ref name=":0" /> In the same month, Asda said that it might need to put 5,000&nbsp;jobs at risk as part of reconstruction plan in the context of people shopping online.<ref>{{cite news|date=25 February 2021|title=Asda says 5,000&nbsp;jobs at risk in new business plan|work=BBC News|url=https://www.bbc.com/news/business-56185236|access-date=25 February 2021|archive-date=25 February 2021|archive-url=https://web.archive.org/web/20210225105606/https://www.bbc.com/news/business-56185236|url-status=live}}</ref>

In March 2021, Asda was involved in the "largest ever sterling bond offering" as part of the financing package to fund the acquisition purchase by [[TDR Capital]] and the Issa brothers.<ref>{{cite news|date=5 March 2021|title=Blockbuster Deals in February; Looser Covenants for Repeat Issuers; J Crew Blockers; Bespoke, Never-Before-Seen Covenant Flexibilities; Year in Review; Looking Ahead|work=Reorg|url=https://reorg.com/emea-covenants-monthly-recap-february-2021/|access-date=11 March 2021|archive-date=10 March 2021|archive-url=https://web.archive.org/web/20210310150237/https://reorg.com/emea-covenants-monthly-recap-february-2021/|url-status=live}}</ref>

In May 2023, it was reported that the Issa brothers and TDR Capital had together contributed just £200&nbsp;million for their purchase of Asda, worth £6.8&nbsp;billion; the majority of the purchase price was funded by a loan from the parent company of heavily indebted [[EG Group]], and by disposing of Asda assets.<ref>{{cite news |last1=Smith |first1=Robert |last2=Wiggins |first2=Kaye |date=4 February 2021 |title=Billionaire Asda buyers to stump up less than £800m to clinch £6.8bn takeover |work=Financial Times |url=https://www.ft.com/content/79964b33-2406-41c8-8f24-4ff5552f1669 | url-access = subscription |access-date=26 May 2023 |archive-date=26 May 2023 |archive-url=https://web.archive.org/web/20230526065210/https://www.ft.com/content/79964b33-2406-41c8-8f24-4ff5552f1669 |url-status=live }}</ref><ref>{{cite news |last1=Smith |first1=Robert |last2=Wiggins |first2=Kaye |last3=Jones |first3=Cleve |date=14 April 2023 |title=Asda price: how buyers bagged a £6.8bn supermarket chain for £200mn |work=Financial Times |url=https://www.ft.com/content/d6f59905-449d-45d4-bbba-ed49f111620d |access-date=26 May 2023 |archive-date=26 May 2023 |archive-url=https://web.archive.org/web/20230526065208/https://www.ft.com/content/d6f59905-449d-45d4-bbba-ed49f111620d |url-status=live }}</ref>

In October 2023, Asda completed a £2.27{{nbsp}}billion acquisition of EG Group property, this mainly consisting of 356 forecourt sites, where the existing [[Spar (retailer)|Spar]] stores at these locations were rebranded to either Asda Express.<ref>{{cite web |last=Leader |first=Alice |date=31 October 2023 |title=Asda completes £2bn acquisition of EG Group's UK business |url=https://www.thegrocer.co.uk/convenience/asda-completes-2bn-acquisition-of-eg-groups-uk-business/684819.article |access-date=28 August 2024 |website=The Grocer|archive-date=28 August 2024 |archive-url=https://web.archive.org/web/20240828225044/https://www.thegrocer.co.uk/convenience/asda-completes-2bn-acquisition-of-eg-groups-uk-business/684819.article |url-status=live }}</ref><ref>{{cite web |title=Asda owners to buy EG Group's UK and Ireland petrol stations for £2.27bn |url=https://news.sky.com/story/asda-owners-to-acquire-petrol-stations-giant-eg-creating-company-with-combined-revenues-of-nearly-30bn-12892860 |access-date=12 June 2023 |publisher=Sky News |archive-date=12 June 2023 |archive-url=https://web.archive.org/web/20230612140319/https://news.sky.com/story/asda-owners-to-acquire-petrol-stations-giant-eg-creating-company-with-combined-revenues-of-nearly-30bn-12892860 |url-status=live }}</ref> The deal also included ownership of fast-food chain [[Leon Restaurants|Leon]], as well as the purchase of 462 [[Burger King]], [[Greggs]] and [[Subway (restaurant)|Subway]] franchises.<ref>{{cite web |title=Asda to bring Leon brand into its supermarkets after £2b deal |url=https://www.thecaterer.com/news/asda-leon-eg-group-restaurant-sale |access-date=28 August 2024 |website=The Caterer|archive-date=28 August 2024 |archive-url=https://web.archive.org/web/20240828225045/https://www.thecaterer.com/news/asda-leon-eg-group-restaurant-sale |url-status=live }}</ref> Asda would later collaborate with [[Sbarro]] to integrate franchises.<ref>{{cite web |title=Current Vacancies |url=https://www.asdaexpressjobs.co.uk/ |access-date=12 January 2025 |website=www.asdaexpressjobs.co.uk}}</ref>

In September 2024 [[Stuart Rose|Lord Rose]] succeeded Mohsin Issa as CEO, supported by TDR Capital's Rob Hattrell. Mohsin retained his ownership stake and assumed a non-executive director role. He would return to EG Group to be its sole chief executive.<ref>{{cite web |title=Mohsin Issa to step back from Asda role to focus on EG Group |url=https://www.lancashirebusinessview.co.uk/latest-news-and-features/mohsin-issa-to-step-back-from-asda-role-to-focus-on-eg-group |access-date=21 September 2024 |website=Lancashire Business View|archive-date=21 September 2024 |archive-url=https://web.archive.org/web/20240921171402/https://www.lancashirebusinessview.co.uk/latest-news-and-features/mohsin-issa-to-step-back-from-asda-role-to-focus-on-eg-group |url-status=live }}</ref>

On 1 November 2024 Zuber Issa sold his 22.5% stake in Asda to TDR Capital, making them the majority owner, controlling 67.5% of the company.<ref>{{cite news|url=https://news.sky.com/story/asda-co-owner-zuber-issa-sells-his-stake-to-private-equity-company-tdr-capital-13149376|title=Asda co-owner Zuber Issa sells his stake to private equity company TDR Capital|work=Sky News|date=7 June 2024|access-date=7 June 2024|archive-date=7 June 2024|archive-url=https://web.archive.org/web/20240607152450/https://news.sky.com/story/asda-co-owner-zuber-issa-sells-his-stake-to-private-equity-company-tdr-capital-13149376|url-status=live}}</ref><ref>{{cite news|title=Asda announces the completion of TDR Capital's purchase of Zuber Issa's shares |url=https://corporate.asda.com/newsroom/2024/11/01/asda-announces-the-completion-of-tdr-capitals-purchase-of-zuber-issas-shares |date=1 November 2024 |website=Corporate }}</ref>

In early November 2024 Asda announced that they were ordering staff back to the office at least three days a week and cutting head office jobs in an attempt to halt the supermarket's decline.<ref>{{cite news |last=Barr |first=Luke |date=5 November 2024 |title=Asda axes jobs and orders staff back to the office three days a week |url=https://www.telegraph.co.uk/business/2024/11/05/asda-axes-jobs-orders-staff-back-to-office-three-day-week/ | url-access = subscription |access-date=7 November 2024 |work=The Telegraph |issn=0307-1235 |archive-date=8 November 2024 |archive-url=https://web.archive.org/web/20241108220505/https://www.telegraph.co.uk/business/2024/11/05/asda-axes-jobs-orders-staff-back-to-office-three-day-week/ |url-status=live }}</ref>

On 25 November 2024,<ref>{{cite magazine| last=Leyland | first=Adam | title=Asda goes 'back to the future – with modernity' as Allan Leighton returns |magazine=The Grocer | date=23 November 2024 | url=https://www.thegrocer.co.uk/news/asda-goes-back-to-the-future-with-modernity-as-allan-leighton-returns/698214.article}}</ref> [[Allan Leighton]], who had been chief executive from 1996 to 2000, was appointed chairman. He was described as "one of Britain's top corporate fixers", partly responsible for rescuing Asda from insolvency in the late 1990s.<ref name=telegraph-20250209>{{cite news |url=https://www.telegraph.co.uk/business/2025/02/09/mr-asda-allan-leighton-save-supermarket-terminal-decline/ |title=Asda has become an embarrassment. Its old boss thinks he can fix it |last1=Marlow |first1=Ben |last2=Barr. |first2=Luke Hannah Boland |newspaper=The Daily Telegraph |url-access=subscription |date=9 February 2025 |access-date=9 February 2025}}</ref> Nils Pratley commented that Asda definitely needed to do something; investment had suffered again after the Issa brothers and TDR had loaded it with buyout debt in 2021, with Asda's market share dropping from 15.1% to 12.6% over the previous five years according to  [[Kantar Group|market research group Kantar]].<ref name=pratley/>

In early 2025, Asda refinanced £3.2&nbsp;billion of its debts, delaying the repayment of bonds in 2026, though at a high interest rate of about 8%.<ref name=telegraph-20250209/>