Tesco completes Fresh & Easy sale

27th Nov 2013 07:34

Tesco said on Wednesday it has completed the sale of the bulk of its loss-making US chain Fresh & Easy to YFE Holdings.The UK supermarket has been looking to dispose of the food chain, which operates 200 stores across California, Nevada and Arizona, for some time as it has lost money since opening in 2007. Tesco announced its intention to sell 150 of its Fresh & Easy stores to YFE in September, saying that it as an "orderly and efficient exit from the US market".YFE is an affiliate of Yucaipa, a US private equity company run by billionaire investor Ron Burkle and focused on supermarket and restaurant businesses. RD

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