Asda’s private equity owner has enjoyed a £44m payout despite the supermarket chain’s ongoing struggles.
Newly filed accounts for TDR Capital, which also owns pet retailer Jollyes, show its partners shared a profit pot of £43.9m in the year to March, £10m more than the £33.6m from the year prior.
The highest earning partner received £2.9m, The Telegraph reported.
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TDR is best known as the majority owner of Asda, after it snapped up a stake in 2021 with the Issa brothers and acquired Zuber Issa’s shares earlier this year.
The firm now owns 67.5% of the supermarket, which has been battling with falling sales and a mounting £6bn debt pile.
Data from NIQ showed that Asda was the only supermarket to see its sales decline in the lead up the crucial Christmas trading period, causing its market share to drop 1.1 percentage points to 12.1%.
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