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Save A Lot Sells 32 Company-Owned Stores

New owners will invest in extensive remodels in 2022

Published

3 years ago

September 8, 2021

Save A Lot Sells 32 Company-Owned Stores — Courtesy of Save A Lot

Discount grocery chain Save A Lot (Earth City, Mo.) has sold 32 company-owned stores in the great Cleveland, Chicago and Milwaukee areas to Yellow Banana LLC, according to a press release. The move is part of an effort to convert its corporate-owned stores to local ownership.

“In many cases our stores are the only accessible option for healthy, affordable groceries, and we will work hard to earn our place as the beloved hometown grocer across our communities,” said Joseph Canfield, Yellow Banana CEO.

Yellow Banana is controlled by minority-owned hold company 127 Wall Holdings. The 32 stores generate more than $130 million in annual revenues. Yellow Banana will reportedly retain all 400 store associates and maintain their current wages, health insurance and retirement benefits. Each store will be remodeled in 2022, including new décor, upgraded flooring and lighting.

Jennifer Acevedo

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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