Tesco secures Fresh & Easy sale

  • Print
  • Share
  • Comment
  • Save

Tesco has sold its US operation Fresh & Easy to private equity firm Yucaipa.

The deal includes more than 150 stores as well as Tesco’s Fresh & Easy’s Riverside distribution and production facilities in California. More than 4,000 staff will also transfer across to the new business.

Tesco announced it was pulling out of the US in April this year.

Read this: So, farewell, Fresh & Easy

“The decision we are announcing today represents the best outcome for Tesco shareholders and Fresh & Easy’s stakeholders,” CEO Philip Clarke said.

“It offers us an orderly and efficient exit from the US market, while protecting the jobs of more than 4,000 colleagues at Fresh & Easy.”

Tesco added that stores not included in the transaction would be closed “over the coming weeks”.

It plans to loan the new business around £80m, secured against the Riverside facility.


Analysis: The Fresh & Easy branding revolution

Tesco’s Fresh & Easy was a bold experiment never attempted before in the US. It was different from existing convenience propositions - and risky…

Read more

Have your say

These comments have not been moderated.

You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment.

Any comment that violates these terms may be removed in its entirety as we do not edit comments.

If you wish to complain about a comment please use the “report this comment” facility or email groceremails@wrbm.com

  • Print
  • Share
  • Comment
  • Save
Sign in

Newsletter Sign-up


I wish to receive the following newsletters:

For Members

Become a Gold Member to receive these newsletters:

Become a Finance Member to receive these newsletters:

Become a member of The Grocer



CLICK HERE to search for the products, services and companies you need in the definitive guide to the UK food and drink industry.


The Grocer's commentators and opinion makers