NEWS & VIEWS

Global private equity and venture capital news and research

TPG completes Gelson’s Markets acquisition

20 Feb 2014

shopping bag_lrgPrivate equity firm TPG has completed the buyout of Arden Group, the parent company of grocery store chain Gelson’s Markets.

TPG will pay $126.50 per share in Arden Group, valuing the business at nearly $400m. The offer was announced in December and represented a premium of 26 per cent to the stock’s average closing price over the past six month period.

Gelson’s Markets president and CEO Rob McDougall said, “With TPG’s retail experience and financial support, we are confident that we can profitably grow Gelson’s, and we are excited to embark on this new phase for the company.”

“In fact, we will be opening our first new store under TPG’s ownership in La Cañada Flintridge at the end of March. We hope this will be the first of many new store openings to come in the future, expanding Gelson’s legacy of providing quality service and products.”

TPG is also invested in Russian supermarket chain Lenta, which has recently priced its IPO at between $9.5 and $11.5 per one global depositary receipt.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS

Keywords: , , ,


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014