Yucaipa Cos. completes acquisition of Tesco's US unit Fresh & Easy, says it plans to build chain into 'healthy convenient food experience' with better prices, hours, customer service
EL SEGUNDO, California
November 27, 2013
– The Yucaipa Companies, a U.S. based private investment firm, today officially acquired Fresh & Easy Neighborhood Market from United Kingdom based Tesco PLC.
Yucaipa plans to build Fresh & Easy into a "healthy convenient food experience," providing busy consumers with more local and healthy access for their daily needs. Fresh & Easy’s existing infrastructure offers a tremendous foundation from which to build even stronger capabilities to provide the highest level of freshness and convenience available.
Fresh & Easy customers will see many exciting changes in the coming weeks to improve convenience, hours and customer service. The Fresh & Easy team is already working on plans to bring greater value and better prices to customers, as well as easier to shop stores.
Ron Burkle, Managing Partner of Yucaipa, said, “We are excited about acquiring the Fresh & Easy business. We are building from a great foundation and see an incredible opportunity to create a healthy convenient food experience.”
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