Mohsin Issa, 52, engages EY accountant Victoria Price, 41, sparking speculation of familial strain

The co-owner of Asda, billionaire Mohsin Issa, has embarked on a new chapter in his life by leaving his wife of 30 years to engage Victoria Price, a former high-flying accountant at EY, who previously worked with the grocer’s auditor. This development has led to widespread speculation about a significant rift between Issa and his brother Zuber, also his business partner. Issa reportedly purchased a mansion for £18.2 million in 2022, near Blackburn, moving away from the family compound to start a new life with Price.

Issa first encountered Price in 2018 at the Lowry Hotel in Manchester, where she, representing EY, presented the Issa brothers with an Entrepreneur of the Year award. This meeting marked the beginning of their relationship, which has drawn attention due to Price’s role at EY, the firm auditing Asda, raising conflict of interest questions. However, the couple’s lawyers have clarified that Price never worked on the Asda account and had made all necessary disclosures to EY’s ethics committee.

The Issa brothers, who founded EG Group (formerly Euro Garages) in 2001, expanded their empire by leading a £6.8 billion buyout of Asda in 2021. Despite concerns from MPs about their experience in food retailing and the transparency of their business accounts, the brothers have continued to grow their business, which now includes a significant number of fuel retail stations across Europe and brands like Cooplands and Cumberland Farms.

The personal developments in Mohsin Issa’s life, including his ongoing divorce from his wife Shamim and Price’s divorce from her second husband in 2021, have not slowed down their professional advancements. Price, after leaving EY, joined the management consulting firm Alvarez & Marsal and is currently on an induction course in Florida.

The Issa brothers have faced their share of challenges, including a search for a new CEO for Asda, dealing with over £4 billion in debts, and navigating market share competition. Despite these challenges, Mohsin Issa has confidently taken on a significant role at Asda, focusing on its day-to-day operations and strategic growth.

Their story of ascent from running a single petrol station to becoming billionaires with a net worth of over £5 billion according to the 2023 Sunday Times Rich List is a testament to their hard work and entrepreneurial spirit. The recent developments have led to a division of responsibilities, with Mohsin focusing on Asda and Zuber overseeing EG Group’s broader operations.

As the brothers continue to navigate their professional and personal lives, the impact of these recent changes on their business empire and family dynamics remains a closely watched saga.