Subscribe Login
Retail

Tesco Fresh & Easy Sold To Yucaipa

Tesco has agreed to sell the fundamental part of Fresh & Easy’s operating business to an affiliate of investment firm, Yucaipa Companies LLC, called YFE Holdings Inc. The deal means Yucaipa will procure more than 150 stores and Fresh & Easy’s Riverside distribution and production facilities. Over 4,000 employees will transfer with the business.

Part of the arrangement, due to be complete in three months, will see Tesco loan about £80 million to the new company, secured against the Riverside campus facility. Those stores not included in the transaction will be closed over the coming weeks.

Philip Clarke, CEO of Tesco, said, "The decision [..] represents the best outcome for Tesco shareholders and Fresh & Easy's stakeholders. It offers us an orderly and efficient exit from the US market, while protecting the jobs of more than 4,000 colleagues at Fresh & Easy." 

Fresh & Easy first opened in November 2007 and has 200 neighbourhood markets in California, Nevada and Arizona, employing more than 5,000 people.

© 2013 - Checkout Magazine by Genna Patterson

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Enjoy full access to Checkout Magazine, our weekly email news digest, access to all website and app content, and the latest digital magazine for a full 30 days.
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Enjoy full access to Checkout Magazine, our weekly email news digest, access to all website and app content, and the latest digital magazine for a full 30 days.
Enjoy unlimited digital access for 30 days