Save A Lot Sells More Stores to Yellow Banana
Discount grocer Save A Lot is expanding its retail partnership with Yellow Banana LLC through the sale of six company-owned stores in Dallas and Jacksonville, Fla. The deal is part of Save A Lot’s ongoing efforts to convert corporate-owned stores to local ownership.
The acquisition by Yellow Banana, a young retail grocery platform, will enable these six stores to remain open. The company intends to employ all of the nearly 100 associates and maintain their current wages, health insurance and retirement benefits.
The new locations now operating under Yellow Banana’s ownership in Texas and Florida are:
Texas
- 3021 Martin Luther King Jr. Boulevard, Dallas
- 2611 South Lancaster Road, Dallas
Florida
- 762 Edgewood Avenue North, Jacksonville
- 5276 Blanding Boulevard, Jacksonville
- 8000 Lem Turner Road, Jacksonville
- 5995 University Boulevard, Jacksonville
Each of these stores will undergo a significant remodel in 2022 to fully reflect Save A Lot’s updated brand image. Inside and outside enhancements include new décor, upgraded flooring and lighting, and updated produce and meat cases. Additionally, Yellow Banana plans to expand each store’s assortment of local and regional products, and hire talent from local communities.
“The Yellow Banana team has great confidence in the Save A Lot brand and format, and we look forward to delivering affordable, high-quality food to working families in the important southern cities of Dallas and Jacksonville,” said Yellow Banana CEO Joseph Canfield.
The sale of the six stores in Texas and Florida follows Yellow Banana’s September 2021 purchase of 32 Save A Lot stores in the Cleveland, Chicago and Milwaukee metropolitan areas. The latest deal brings Yellow Banana’s total Save A Lot store count to 38 stores in five states.
Founded in 2021, Yellow Banana is owned by Cleveland-based 127 Wall Holdings, LLC. Yellow Banana endeavors to deliver essential nutrition to working families at affordable prices.
As a reflection of Yellow Banana’s commitment to positive corporate citizenship and in an effort to offer meaningful assistance to those in need, the company will seek to form new partnerships with local food pantries and other key community organizations.
“We are delighted that Yellow Banana is growing its Save A Lot store count,” said Tim Schroder, chief sales and marketing officer at Save A Lot. “Their clear commitment to connecting the business to the local community, and appetite for growing the business, will ensure Save A Lot continues to serve customers for years to come.”
“We are excited to deepen our strong relationship with Save A Lot, and to expand our mission of tackling food deserts across the United States, through this extension of Yellow Banana’s operations into the promising Texas and Florida markets,” added Yellow Banana President Ademola Adewale-Sadik.
Save A Lot has approximately 1,000 stores in 32 states, and 14 wholesale distribution centers. The Earth City, Mo.-based company is No. 57 on The PG 100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America.
