BERKELEY, CA - The private equity firm Hellman & Friedman LLC is closing in on a deal to acquire Grocery Outlet, according to inside sources from the Wall Street Journal. At this point, no word of the size of the deal has been reported, although the floor of any acquisition is expected to be north of $1.1 billion, the amount of the first round bids in Grocery Outlet's auction.
If Hellman & Friedman does close in a deal, one which the Wall Street Journal reports could be announced as soon as Monday, it will first have to beat out fellow private equity firms Bain Capital and Roark Capital Group, which both advanced to the second round of the auction after placing their initial bids.
Since its founding in 1940, Grocery Outlet has been providing shoppers with a full line of grocery products fresh produce, frozen, deli and refrigerated, fresh meat, general merchandise, health and beauty, and beer and wine. It currently has over 200 stores in California, Arizona, Idaho, Nevada, Oregon, Pennsylvania and Washington.
Stay tuned to AndNowUKnow for any future updates on the Grocery Outlet and its potential suitors in this sale.
