Napa’s Fresh & Easy store in River Park center will remain open following Tuesday’s announcement that the U.S. chain is being sold, the local store manager said Tuesday morning.
The Yucaipa Companies LLC, a U.S.-based private investment firm, said it is purchasing more than 150 Fresh & Easy Neighborhood Market stores as well as Fresh & Easy’s Riverside distribution and production facilities from the United Kingdom-based Tesco PLC.
According to The Associated Press, the company’s deal with Yucaipa Companies does not include 50 Fresh & Easy stores, which will close in the coming weeks. Fresh & Easy operates more than 200 stores in California, Arizona and Nevada.
The Napa Fresh & Easy store is not on the closure list, store manager Melvin Hardy said Tuesday morning.
A full list of the stores that will close had not been released as of Tuesday morning. Yucaipa's purchase is expected to be complete within three months. In the meantime it is business as usual for most Fresh & Easy stores, said the release.
Philip Clarke, CEO of Tesco, said, “The decision we are announcing today represents the best outcome for Tesco shareholders and Fresh & Easy’s stakeholders. 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.”
Ron Burkle, managing partner of Yucaipa said, “Fresh & Easy is a tremendous foundation. Tesco should be applauded for giving their customers an affordable, healthy, convenient shopping experience. We plan on continuing to build Fresh & Easy into a ‘next-generation convenience retail experience,’ providing busy consumers with more local and healthy access for their daily needs."