<p> Fresh & Easy and its London-based parent company, Tesco, are set to sell the supermarket’s 200 stores to Yucaipa, the investment firm of U.S. billionaire supermarket mogul Ron Burkle.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Yucaipa, founded in 1986 by Ron Burkle, owns the shares of a number of companies including Ralph’s, Food4Less, Fred Meyer, Golden State Foods, Alliance Entertainment, and Dominick’s. Yucaipa will acquire at least 150 Fresh & Easy stores and the company’s Riverside food production and distribution center. In addition, 4,000 Fresh & Easy employees will transfer to the new business, according to Reuters.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The acquisition deal comes a month after talks appeared to have stalled or fallen apart when Tesco, the world’s third largest retailer, previously attempted to sell its Fresh & Easy business before it would be shut down or dismantled piecemeal, according to Financial Times. The company wanted to avoid its shareholders retaining any U.S. liabilities for Fresh & Easy. The sale to Yucaipa “represents the best outcome for Tesco shareholders and Fresh & Easy’s stakeholders,” said Philip Clarke, Tesco Chief Executive Officer. “It offers us an orderly and efficient exit from the U.S. market.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Reuters also reports that Tesco will loan the new business about £80 million, secured against the Riverside Campus facility, as part of the deal.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Nevertheless, now that the acquisition discussions have been revived, Tesco is trying to formulate the best outcome for its shareholders. Tesco said that although the closure of Fresh & Easy stores not part of the deal, the total cash outflow relating to the closure of these stores, other expenses, and the loan is expected to be no more than £150m. Since 2007, the total loss for Tesco has been around £1.28 billion.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> What does this mean for California and the U.S. retail market?<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Stay tuned to AndNowUKnow for more comments and opinions.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.ft.com/intl/cms/s/0/446a7f92-1a18-11e3-b3da-00144feab7de.html#axzz2eVNMnKQ3" target="_new"> Financial Times </a><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.reuters.com/article/2013/09/10/tesco-us-idUSASN0002L020130910" target="_new"> Reuters </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
