Two grocery stores in south Dallas have new ownership. The Save A Lot grocery store chain has sold two of its Dallas locations to Yellow Banana, a company partnering up with Save A Lot to keep stores open in under-served communities.
According to a release, the two stores changing hands are located at:
- 3021 Martin Luther King Jr. Blvd., in South Dallas just west of Fair Park
- 2611 South Lancaster Rd,, Dallas, south of Illinois Avenue near the Cedar Crest Golf Course
These were part of a bigger sale: Save A Lot, one of the biggest discount grocery chains in the U.S., sold six company-owned stores, with the two in Dallas plus four in Jacksonville, Florida.
Save A Lot was founded in 1977 by Bill Moran, a former marketing executive in the grocery business, who wanted to bring the chain concept to the small grocery store realm. To keep prices low, they sell only the most popular items and they also sell products under their own store brands. (According to Mashed, many of those brands are named after store and company employees.) Most of their stores are in low-income neighborhoods.
But the company recently decided to shift to a wholesale-focused business, which means it will be selling more than 300 corporate-operated stores to new retail partners. Eventually, they will winnow down to 21 corporate-operated stores in St. Louis to serve as testing sites for retail partners.
Yellow Banana was founded in 2021 as a subsidiary of 127 Wall Holdings, LLC, a minority-owned holding company.
In September, Yellow Banana bought 32 Save A Lot stores in the Cleveland, Chicago, and Milwaukee areas. They will now own 38 Save A Lot store stores in five states.
"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," says Yellow Banana President Ademola Adewale-Sadik.
The release says that Yellow Banana won't be doing layoffs and will maintain current wages, health insurance, and retirement benefits.
The stores will continue to emphasize convenience, high-quality products, great value, and easy-to-shop store experiences. Yellow Banana also plans to expand local and regional products and hire talent from local communities.
The stores will get remodeled in 2022 to reflect Save A Lot's updated brand image, with new décor, upgraded flooring and lighting, and updated produce and meat cases.