Grocery Outlet Announces Confidential Submission of Draft Registration Statement for Proposed IPO
EMERYVILLE, CA - The discount supermarket, whose stores are largely independently-owned and operated, announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock. According to a press release, the number of shares to be offered and the price range for the proposed offerings have not yet been determined.
The initial public offering is expected to commence after the SEC completes its review process, and is subject to market and other conditions.
The retailer, which operates in California, Oregon, Washington, Idaho, Nevada, and Pennsylvania, made headlines last September when its Co-CEOs, MacGregor Read and Eric Lindberg—along with private equity firm Hellman & Friedman, which owns the chain—announced they would love to see the banner go national.
Part of Grocery Outlet’s popularity resides in the fact that it is independently-owned and able to stock the stores with whatever the owners choose. Will plans to go public directly affect its relationship with its loyal customers? AndNowUKnow will continue to keep its eyes on further developments to the supermarket’s IPO.