Billionaire Ron Burkle is in talks to buy Tesco Plc (TSCO)’s unprofitable Fresh & Easy chain in the U.S., according to people familiar with the discussions.
Burkle would use the stores to relaunch the Wild Oats brand, according to the people, who asked not to be identified because the process isn’t public. Jim Keyes, the former CEO of 7-Eleven Inc. and Blockbuster Inc., owns the Wild Oats name and will serve as chief executive officer of a new grocery retail venture with the billionaire, said one of the people. Burkle founded private-equity company Yucaipa Cos.
Frank Quintero, a spokesman for Yucaipa, declined to comment. A Tesco official declined to comment.
Tesco fell 0.4 percent to 342.55 pence at the close of trading in London yesterday.
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