Coverage from Produce Retailer/The Packer
From the Guardian: Tesco pays out to rid itself of U.S. chain Fresh & Easy
From the Telegraph: Tesco sale of Fresh & Easy wins city backing
Meanwhile, word is trickling out about the Fresh & Easy store closings.
From: Phoenix Business Journal
It is interesting what the news release about the purchase said about the future of the stores. From the release:
Ron Burkle, Managing Partner of Yucaipa said, “Fresh & Easy is a tremendous foundation. Tesco should be applauded for giving their customers an affordable, healthy, convenient shopping experience. Its dedicated employees and great base of customers give us a solid starting point to complete Tesco's vision with some changes that we think will make it even more relevant to today's consumer. We plan on continuing to build Fresh & Easy into a "next-generation convenience retail experience," providing busy consumers with more local and healthy access for their daily needs."
What does that paragraph actually mean? I don’t think the Fresh & Easy banner will be long for the world after the sale is finalized.
California-based retail analyst Ed Odron said he believes that Yucaipa Group will make headway with the stores. They will have a better understanding of what customers in those areas want,” Odron said. While some store locations may be spun off to Subway or similar franchises, Odron believes most of the Fresh & Easy stores will remain food outlets, though not under the F&E banner.
“Customers won’t understand ‘under new ownership,’ “he said. “It would be wise to change the banner.”
Odron was surprised Aldi didn’t show much interest in the Fresh & Easy stores. Dollar General also may have also gained from acquiring the stores, he said.