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The Yucaipa Co.'s acquisition of Fresh & Easy Neighborhood Market from U.K.-based Tesco PLC is officially closed.
In a statement, Ron Burkle, Yacaipa managing partner, said the the private investment firm will build "from a great foundation and [sees] an incredible opportunity to create a healthy convenient food experience. Fresh & Easy’s existing infrastructure offers a tremendous foundation from which to build even stronger capabilities to provide the highest level of freshness and convenience available."
Burkle further noted "many exciting changes in the coming weeks to improve convenience, hours and customer service. The Fresh & Easy team is already working on plans to bring greater value and better prices to customers, as well as easier to shop stores."