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Tuesday
Sep102013

Tesco Announces Sale of Fresh & Easy Stores to Yucaipa Today

After signaling it was looking at "strategic options" for its money-losing Fresh & Easy Neighborhood Market chain early this year, Tesco today announced that it is selling a substantial part of its Fresh & Easy operations, including its Riverside distribution and production facilities, to private equity holding company, Yucaipa Companies LLC.

Tesco indicated the sale is expected to be completed within three months. Yucaipa is purchasing over 150 of Fresh & Easy's 200 stores and is anticipated to retain over 4,000 employees. Currently Fresh & Easy employs over 5,000 people, including 1,300 at its Riverside facility.

On a positive note, this means that they are retaining over 75% of the stores...on a negative note, 25% Fresh & Easy's stores will be closed and 20% of its labor base will be on the job market soon.

WHICH STORES!!?? Yes, this is what everyone wants to know right now, as evidenced on Fresh & Easy's Facebook page at www.facebook.com/freshandeasy. Tesco and Fresh & Easy have not announced which stores will be closed yet but indicated that "those stores not included in the transaction wil be closed over the coming weeks."

So stay tuned, Fresh & Easy fans. There are 10 Fresh & Easy stores in Ventura County and directly adjacent areas.

Yucaipa has quite a track record in the grocery store chain arena, having acquired and/or sold Food 4 Less, Boys Markets, Alpha Beta, Smitty's, Ralphs and Dominick's grocery store chains in the past.

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Reader Comments (3)

I'ev been told the the Simi Valley store is one of the moe profitable ones and will be remaining open. VERY thankful for that, as my family shops there several times a week!

September 10, 2013 | Unregistered CommenterMrMAB

Why would Burkle retain the name Fresh & Easy? The brand has very little value and equity (besides the fanatics online).

Wild Oats does have all the cache that is needed for a relaunch.

Too many missteps, mistakes and such with Fresh & Easy. And of course that horrific ad campaign…..yuk!

September 10, 2013 | Unregistered CommenterAuthor

Hopefully all the local F&E stores will stay open but we shall see! A VC Star reporter tweeted that VC stores will remain open at https://twitter.com/avmartinez/status/377526149900804097 (perhaps they called all the local stores to confirm).

To Author: Well, you never know what Burkle will do. He doesn't actually own them yet as the transaction will take 3 months or so to finalize. I'm sure his company will tackle the issues expeditiously!

September 10, 2013 | Registered CommenterConejo Joe

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