Mohsin Issa, the former co-owner of Asda, has ventured into a new business domain by investing £10 million in a sports supplement company. This marks his first significant financial move since stepping down from his role at the supermarket giant.
Issa’s investment has been channelled through Boulder Investco Limited into Applied Nutrition, a company known for its protein supplements. This investment aligns Issa with a consortium of four successful entrepreneurs from the North West, preparing for the company’s listing on the London stock market.
Applied Nutrition is based in Liverpool and currently lists Andy Bell, founder of AJ Bell, as its chairman. The company also benefits from the backing of JD Sports, which holds a substantial 32% stake.
Joining Issa in this investment are Tom Morris, founder of Home Bargains, and property tycoon George Downing. Collectively, these investors are set to hold approximately 7% of Applied Nutrition, indicating a significant strategic interest in the business’s growth.
Issa had recently stepped down as the CEO of Asda in September, an event which led to Lord Rose, the then chairman, taking over executive responsibilities alongside Rob Hattrell of TDR Capital. Despite this change, Issa maintains his position as co-owner of Asda.
Issa and his brother, Zuber Issa, have publicly stated their commitment to supporting UK entrepreneurs and fostering business growth. However, Zuber Issa has not currently invested in Applied Nutrition.
This investment signifies Mohsin Issa’s strategic alignment towards supporting innovative UK businesses, reflecting a broader commitment to nurturing entrepreneurship and economic growth.
