US: Billionaire Burkle "in talks to buy Fresh & Easy"
Fresh & Easy has yet to turn a profit in six years
Bloomberg cited anonymous sources who said the two sides were in talks. Burkle, founder and managing partner of US investment fund Yucaipa Cos., wants to rebrand the Fresh & Easy outlets under the Wild Oats banner, the report said.
The Wild Oats banner ended in 2007 when the natural and organic retailer was acquired by rival Whole Foods Market. Bloomberg said former 7-Eleven CEO Jim Keyes owns the Wild Oats name and would run the new chain of stores owned by Burkle.
When contacted by just-food, a Fresh & Easy spokesperson declined to comment. "We don’t comment on rumour or speculation," the spokesperson said. Officials at Yucaipa could not be reached for immediate comment.
Tesco said in April it would quit the US after six unsuccessful years in the market. The Fresh & Easy chain has yet to make a profit. The retailer said in April it had received offers for the business, both for the whole of the chain and parts of the operations.
"Two weeks ago we received our first set of indicative offers from prospective buyers. Encouragingly, there are a number of organisations that want to buy the business in its entirety, so those are the ones we're pursuing with earnest," CFO Laurie McIlwee said at the time.
This is a detailed report covering Tesco’s store formats, private labels, history, key employees, and key financial and operational metrics in the Czech Republic...
Doug McMillon may have followed Mike Duke's path at Wal-Mart with the move from head of international to the CEO's office and, in some ways, he has some foundations on which to build the next stage of...
This is a detailed report covering Tesco’s store formats, private labels, history, key employees, and key financial and operational metrics in Turkey....
Sainsbury's initial campaigns promoted brands, own label products, and buying basic ingredients. As the credit crunch continued, Sainsbury's launched Live Well for Less. Tesco emphasized price in 2008...
Tesco China will take a cautious approach to development in China, given the currently challenging market environment. With a focus on building scale in North, South and East China, Tesco China will h...
- On the money: Hormel still looking for M&A
- FMCG sales slowing despite economic green shoots
- Consuming issues: The hunger-obesity paradox
- On the money: Hain expects continued organic gains
- Analysis: Market bets on higher Chiquita offer
- Switz rejects EU plea to bypass Russia export ban
- Parmalat nears Lacteos Brasil acquisition
- Russian government eases ban on food imports
- Fonterra, Beingmate launch infant formula JV
- UK group Symington's eyes Australia growth