Two Save A Lot stores in southern Dallas have a new owner with a ‘mission of tackling food deserts’
The new owner of the Save A Lot stores on Martin Luther King Jr. Boulevard and South Lancaster Road plans to fundamentally redesign the stores “inside and out”.
Save A Lot sold the two stores in south Dallas to Yellow Banana, a Florida company that was founded this year with a “Mission to Combat Food Deserts”.
Yellow Banana has already bought Save A Lot stores in Cleveland, Chicago, Milwaukee and as of Tuesday four stores in Jacksonville and two in Dallas. It now has 38 stores.
Company CEO Joseph Canfield said he has confidence in the Save A Lot brand and format and that Yellow Banana plans to provide “affordable, high-quality food to working families.”
The company plans to keep branch employees at their current wages, health insurance and pension benefits and will be hired by the local community.
Yellow Banana plans to expand the store’s range and each store will undergo a “major makeover” in 2022 with new decorations, flooring, lighting, and updated product and meat boxes.
The stores are a vital link to fresh food in south Dallas. The city of Dallas has tried various strategies and money offers to attract grocers to the area that residents believe may be underserved. Walmart has two supercentres in south Dallas, and major grocery stores Kroger, Tom Thumb, Fiesta, and others are primarily concentrated in Oak Cliff.
Yellow Banana is owned by 127 Wall Holdings, a company that says it funds “promising entrepreneurs” and business owners who need capital and operations support to grow their businesses. It says it has an investment philosophy that is focused on diversity, equity, and inclusion.
Canfield has a grocery wholesale background and was Category Director at Save A Lot in St. Louis for more than a year before co-founding Yellow Banana. He is also the managing partner of 127 Wall.
Twitter: @MariaHalkias
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