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.
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...
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 Poland....
This is a detailed report covering Tesco’s store formats, private labels, history, key employees, and key financial and operational metrics in China. Introduction and Landscape Why was the report w...
Tesco Plc entered the US market in 2007 with its small format, convenience-orientated Fresh & Easy stores. Since its entry, the economic recession compounded the challenges of entering a new market. T...
- BRICs: The thinking behind Mondelez's Vietnam deal
- Interview part 1: BRF CFO Augusto Ribeiro
- Prospects for protein: Snacks growth to continue
- Comment: Why Gardein is Pinnacle's ideal fodder
- Deal or no deal: Should Danone buy Mead Johnson?
- 2 Sisters Food Group posts higher annual losses
- Kellogg trumps Abraaj bid for Bisco Misr
- Raisio buys UK, Ireland and Belgium Benecol ops
- Lactalis submits takeover bid for Arab Dairy
- Live blog: Food Matters Live
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Energy Bars Market in Canada: Market Profile to 2017
- The Snackification of Breakfast
- Dairy Product Production in China
- PepsiCo, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report