Gelson's Markets Expansion Planned as Acquisition Completes
Arden Group, Inc., the parent company of Gelson's Markets, announced today that it has finalized an agreement to be acquired by TPG, a global private investment firm. In an all-cash transaction, Arden Group was purchased for approximately $394 million, according to a press release.
Additionally, the retailer now has an expansion strategy, with 1-2 new stores in California planned per year for the foreseeable future.
"We are pleased to partner with TPG and look forward to the next phase of the Company’s growth. Gelson’s will continue to provide the highest levels of service to our customers at our same current locations, while looking to offer a remarkable shopping experience in other areas of Southern California," Rob McDougall, President of Gelson’s Markets said in a press release.
Yvonne Manganaro, Director of Marketing for Gelson's tells AndNowUKnow, "We're looking to open 1-2 stores per year. We estimate that in total there's 10-15 cities in California that would be a good fit for Gelson's."
Besides the Flintridge store opening on March 27th, there are no other stores currently planned for 2014. However, the company is looking into other California locations. Potentials include Orange County, San Diego County, and South Bay. No decisions have been announced so far.
"Our head produce buyer Ted Fujii is always looking for special and unique items," Manganaro adds. With 17 going on 18 locations, Gelson's can stock items that have relatively limited distribution, sometimes even bringing in boutique items to just one or two stores.
Gelson's Markets
