EMERYVILLE, CA - Back in February, we reported that Grocery Outlet had plans to acquire United Grocery Outlet (UGO) from affiliates of Gen Cap America and current and former UGO management. Now, the acquisition has been finalized.
"We are pleased to complete this transaction and extend our footprint into the Southeast," said RJ Sheedy, Grocery Outlet's President and Chief Executive Officer. "These stores have a track record of strong performance and give us immediate scale and a platform for future expansion in this new region. Our similar opportunistic buying strategies, customer value propositions, and shared mission of serving our communities make this acquisition a natural fit for our business. We are excited to welcome the United Grocery Outlet team to the Grocery Outlet family and work together on the many growth opportunities ahead."
According to a press release, UGO is an extreme value, discount grocery retailer operating throughout the Southeastern United States.
With 40 stores and a distribution center, the acquisition of UGO expands Grocery Outlet’s presence into Tennessee, North Carolina, Georgia, Alabama, Kentucky, and Virginia.
Forward-looking statements and more can be found in the company’s press release here.
As always, ANUK will continue bringing you the industry’s latest acquisition news.
