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 Poland....
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...
Tesco was again in the spotlight last week after another quarter of falling sales. Like-for-like sales dropped in each of its markets. Elsewhere, Unilever outlined plans to cut 2,000 jobs and further ...
Unilever CEO Paul Polman last week met analysts to explain how the consumer goods giant is changing its business amid slowing sales, moves that are set to include 2,000 jobs being cut....
- Briefing: How is gluten-free faring in Europe?
- Happy Family CEO on baby and beyond
- BRICs and beyond: Kam Tai's Chinese growth story
- Campbell Soup Co.'s M&A plans should avoid fresh
- 10 things to learn: Campbell's plans for growth
- Post, TreeHouse "in talks over ConAgra own-label"
- Lactalis surpasses Danone on dairy league table
- Mondelez Mexico investment to hit 600 US jobs
- Brownes Dairy owner Archer Capital "eyes sale"
- Lindt adds Hello Bites to US portfolio