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Mid-market US private equity firm Berkshire wins Grocery Outlet

15 Oct 2009

Berkshire Partners, a Boston-based private equity firm, will make an undisclosed investment in Grocery Outlet, a value grocery retailer, having won a recent auction.

The retailer operates 135 stores in the US and was founded in 1946.

Chris Hadley, managing director of Berkshire Partners, said, “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.”

Last week it was reported that Oak Hill Capital Partners and CCMP Capital Advisors were in the running to take Grocery Outlet in a bidding rally that was expected to close on around $400m.

Berkshire Partners has a track record of investing in value retailers. Prior transactions include National Vision, an operator of value-oriented vision centers, Party City, a retailer of party goods, and Savers, a retailer of secondhand merchandise.

Berkshire has raised seven private equity funds with aggregate capital commitments of around $6.5bn.

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