Mohsin Issa, former CEO of Asda, takes a significant step into the sports nutrition market with a £10 million investment.
- Issa’s investment marks his first business endeavor since leaving Asda, shifting focus to EG Group.
- The investment is in Applied Nutrition, a Liverpool-based firm with JD Sports as a key shareholder.
- Issa joins forces with other prominent North West entrepreneurs for Applied Nutrition’s market plans.
- Despite his new ventures, Issa remains co-owner of Asda and retains a board seat.
Mohsin Issa, former chief executive of Asda, has transitioned into the sports supplement industry with a substantial £10 million investment. This marks his first venture since resigning from his role at the supermarket chain. Issa’s investment signals a major career pivot as he focuses on overseeing his other enterprise, EG Group.
The chosen recipient of Issa’s investment is Applied Nutrition, a company based in Liverpool renowned for its protein supplements. Issa has acquired shares through his investment firm, Boulder Investco Limited, as reported by the Telegraph. The brand is not only supported by Issa but also counts JD Sports as a significant stakeholder with 32% of the business’s shares.
Issa aligns with a group of successful entrepreneurs from North West England, collectively preparing for Applied Nutrition’s anticipated launch on the London stock market. This consortium includes Home Bargains founder Tom Morris and property magnate George Downing. Together, they aim to hold up to 7% of Applied Nutrition’s shares altogether.
As Mohsin Issa diversifies his business interests, he continues to play a crucial role at Asda, maintaining a co-ownership status and holding a position on the board. His departure from the CEO role led to Lord Rose, the chairman, assuming executive responsibilities alongside Rob Hattrell, a partner at TDR Capital.
Despite the substantial nature of the investment and its implications, Issa’s brother Zuber Issa has not invested in Applied Nutrition as of the latest reports. However, the brothers jointly expressed their intent to support UK-based entrepreneurs, emphasizing their dedication to fostering business growth and job creation within the country.
Mohsin Issa’s strategic investment in Applied Nutrition highlights his commitment to expanding his business portfolio while supporting UK entrepreneurship.
