Austin, TX
By ANUK Staff
5.13.13
As Tesco’s Fresh & Easy chain grows in California, the organic grocery chain Whole Foods has reportedly taken a “good hard look” at a possible acquisition, according to Market Watch.
“We will certainly be taking a look at it,” says Walter Robb, co-Chief Executive of Whole Foods. Robb also stated that there is no assurance that Whole Foods would offer to acquire one or more of the sites.
Tesco confirms that there will be competition however and stated in mid-April that it has received “lots of interest” from potential buyers, some of this interest being in purchasing the entirety of the business.
Fresh & Easy, established in 2007, currently operates 199 stores in California, Arizona and Nevada. As the store has not performed to a level justifying the massive investment, Tesco plans to take a $1.8 billion charge to write off the Fresh & Easy business.
Whole Foods plans to open 32 stores in the 2013 fiscal year and another 33 to 38 in 2014. “There is so much opportunity for us right now. I don’t see any competitor that slows us down,” said Robb.
Whole Foods Report
