Tesco’s struggling Fresh & Easy U.S. retail brand may soon be acquired. Multiple reports have shown billionaire investor Ron Burkle is in talks with Tesco regarding an acquisition.
Burkle would use the locations to relaunch the Wild Oats brand. Jim Keyes, the former CEO of 7-Eleven Inc. and Blockbuster Inc., owns the Wild Oats name and would reportedly serve as CEO of a new grocery retail venture with the billionaire, Bloomberg reported.
Fresh & Easy currently has about 200 stores in Nevada, California and Arizona, and hasn’t made a profit since it was launched in 2007.