Berkshire Partners plans
to invest in Grocery Outlet
Oct 16, 2009 11:07 AM
Berkshire Partners LLC, a Boston MA-based private equity firm, has signed a definitive agreement to make an equity investment in Grocery Outlet Inc, an extreme-value grocery retailer with more than 135 stores in the western United States. Terms of the transaction were not disclosed.
Headquartered in Berkeley CA, Grocery Outlet is a third-generation family-owned business founded in 1946 by Jim Read. The company is now led by Co-Chief Executive Officers MacGregor Read and Eric Lindberg. Grocery Outlet can offer brand-name products up to 60% below traditional retailers by purchasing discounted surplus inventory directly from more than 2,500 grocery manufacturers. Its stores are managed by local, independent operators.
“We believe Grocery Outlet has a unique operating model that offers customers tremendous values on brand names they trust in a friendly, high quality shopping environment. Over the past few years, Grocery Outlet has successfully invested in broadening its product offering, improving its marketing efforts, and opening new stores,” said Chris Hadley, managing director of Berkshire Partners.
For more information, visit www.groceryoutlet.com.
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