After several standalone investments in the late 1980s, it went on to lead the consolidation of West Coast retail that occurred during the 1990s due in part to the rise of discount centers like Wal-Mart.

[11] In 2009, Yucaipa doubles its stake in Barnes & Noble to 16.8% during e-reader war with Amazon.com, citing corporate governance concerns.

After 61 years in business, passenger operations shut down on March 31, 2008, due to rising fuel prices, new competition for inter-island travel, a tightening credit market, and dwindling interest by investors in the airline industry.

Ramy El-Batrawi died of undisclosed causes on April 23, 2024[17] In January 2011, Yucaipa won federal Bankruptcy Court approval to buy the Aloha name and other intellectual property for $1.5 million with a stipulation that it not resell the name to Mesa Air Group, the parent of go!

[18] Caught in the pink slime controversy and with interim chief executive Ron Allen citing "ongoing media attention" that has "dramatically reduced the demand for all ground beef products" in 2012, Yucaipa's AFA declared Chapter 11 bankruptcy.

Based in King of Prussia, Pennsylvania, AFA at the time the controversy broke had about 850 employees and annual revenues of $958 million.

[21] From 2003 to 2006, Bill and Hillary Clintons' tax returns show total Yucaipa partnership income of $12.5 million.