Ron Burkle‘s Yucaipa Companies has taken over yet another troubled grocery store chain: the financially troubled Fresh & Easy.
The California-based billionaire took on the El Segundo, Calif.-based chain from UK parent company Tesco, who gave up on the debt-ridden brand several months ago.
“Fresh & Easy is a tremendous foundation,” Burkle said, according to City News Service.
He added: “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.”
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