Fresh & Easy purchased; store closures expected - FOX5 Vegas - KVVU

Fresh & Easy purchased; store closures expected

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The fate of 20 southern Nevada Fresh & Easy locations were in limbo following its parent company's announced intention to leave the U.S. (FOX5) The fate of 20 southern Nevada Fresh & Easy locations were in limbo following its parent company's announced intention to leave the U.S. (FOX5)
LAS VEGAS (FOX5) -

After several months of uncertainty, grocery chain Fresh & Easy, which opened 20 locations in southern Nevada, announced its acquisition Tuesday by a California investment firm.

Fresh & Easy's parent company Tesco said The Yucaipa Companies LLC reached an agreement to purchase the chain.

As part of the announcement, Tesco said more than 4,000 jobs will be saved under the acquisition but some stores will be closing. There was no immediate word on where those locations will shutter.

According to the chain's website, there are more than 200 locations located in the western United States. Last December, the British-based Tesco announced its intention to pull out of the American market altogether, putting the fate of the chain in limbo.

The terms of the purchase were not disclosed.

The Los Angeles-based Yucaipa Companies, a private equity investment firm, has had previous experience in grocery store holdings. According to a web search, the firm previously acquired chains Food 4 Less and Ralphs before merging both into each other and selling the assets.

Tesco released the following statement as part of the purchase announcement:

"For over five years, all of us here at Fresh & Easy have worked hard to bring you great products and a great shopping trip at a great value. We appreciate the love and support we have received from you, our most loyal shoppers. Rest assured, we plan on working through this transition to new ownership with the same spirit and dedication that we've brought to this business since the beginning.

"Thank you again for your support and we look forward to seeing you in one of our stores soon."

Copyright 2013 KVVU (KVVU Broadcasting Corporation). All rights reserved.

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