<p> Gelson’s Markets’ parent company Arden Group has agreed to be acquired by TPG, the global private investment firm, in a transaction totaling approximately $394 million. Arden Group’s shareholders will receive $126.50 per share in cash for each share of the company’s common stock they hold, according to a press release. All members of the company’s Board of Directors who were present and voted approved the sale.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> “I am pleased to announce this agreement as it delivers significant value to our shareholders,” said Bernard Briskin, Chairman, President, and CEO of Arden Group. “It is a clear endorsement of Gelson’s Markets and of the hard work and commitment of our employees with whom I have had the privilege to work with for more than 40 years.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> TPG’s Carrie Wheeler, Partner, said that the firm looks forward to working with Arden Group to continue expanding Gelson’s footprint of premier supermarkets.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> As the Southern California supermarket chain looks to continue its future growth, Rob McDougall, President, says, “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.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The transaction is subject to customary closing conditions. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.ardengroupinc.com/investors/index.asp" target="_new"> Arden Group </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.gelsons.com/shop/index.asp" target="_new"> Gelson’s Market </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
