Home Business Save A Lot sells 32 stores as part of wholesale business shift

Save A Lot sells 32 stores as part of wholesale business shift

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Save A Lot has taken another step in its transition to a wholesale business model with the sale of 32 stores in the Cleveland, Chicago and Milwaukee areas to a local operator.

The St. Louis-based discount grocer said Tuesday that it has completed deals to sell the  Save A Lot supermarkets to Yellow Banana LLC. Financial terms of the transaction weren’t disclosed. Yellow Banana is part of 127 Wall Holdings LLC, a minority-owned holding company co-founded by Walker Brumskine, Ademola Adewale-Sadik and Michael Nance, who are joined by veteran operator and 127 Wall Holdings co-founder Joseph Canfield, who serves as Yellow Banana’s CEO.

“We are thrilled to have the passionate team at Yellow Banana join our Save A Lot network,” Chris Hooks, executive vice president and chief merchandising officer at Save A Lot, said in a statement. “Their…

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