Asda's new Lancashire owners have pledged to increase the proportion of British food and source all their beef from UK farmers.
Two billionaire brothers from Blackburn have acquired a majority stake in Asda from US-based Walmart in a deal worth £6.8bn.
A consortium of Zuber and Mohsin Issa and private equity firm TDR Capital will take a majority stake in the supermarket chain.
The deal means the retailer will return to majority UK ownership for the first time in twenty years.
Walmart acquired Leeds-based Asda in 1999 in a deal worth £6.7bn, and it will retain a minority stake.
The Isaa brothers own EG Group, which has over 5,200 petrol stations across the UK and Europe.
They have committed to keep pay levels for Asda staff at the same level, and that the chain would have low prices for food and petrol for customers.
The Issa brothers have also pledged to buy more British-sourced goods and foods, and to source all of the retailer's beef from UK farmers.
Mohsin and Zuber Issa said in a statement that they were 'proud' to be investing in Asda, a company they call an 'iconic British business'.
"Asda’s customer-centric philosophy, focus on operational excellence and commitment to the communities in which it operates are the same values that we have built EG Group on.
“Asda’s performance through the Covid-19 pandemic has demonstrated the fundamental strength and resilience of the business.
“We believe that our experience with EG Group, including our expertise around convenience and brand partnerships and our successful partnership with TDR Capital, can help to accelerate and execute that growth strategy.
"After a successful period as part of Walmart we are looking forward to helping Asda build a differentiated business that will continue to serve customers brilliantly in communities across the UK.”
The supermarket chain will continue to be led by Roger Burnley who will sit on Asda’s Board with representatives appointed by the Isaas, TDR Capital and Walmart.
