TPG Acquires Gelson’s Markets
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TPG Acquires Gelson’s Markets

gelsons nfTPG has completed its previously announced acquisition of Arden Group, the parent of Gelson’s Markets, an operator of specialty grocery stores. The transaction is valued at $394 million.

Gelson’s Markets operates 17 specialty grocery stores in Southern California. Products sold include produce, meat, seafood, deli, wine and liquor. The company was founded in 1951 and is headquartered in Encino, CA (www.gelsons.com).

wheeler nf1“Gelson’s Markets is an iconic Southern California supermarket chain that prides itself on offering quality and unmatched customer service,” said Carrie Wheeler, partner at TPG. “We look forward to working with the team to further expand Gelson’s footprint of premier supermarkets.”

TPG is a private investment firm founded in 1992 with approximately $56 billion of assets under management. Sectors of interest include industrials, retail, consumer, financial services, travel and entertainment, technology, media and communications, and healthcare. TPG makes investments throughout North America, Europe, Asia and Australia. The firm has offices in San Francisco, Fort Worth, Austin, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo (www.tpg.com).

“With TPG’s retail experience and financial support, we are confident that we can profitably grow Gelson’s, and we are excited to embark on this new phase for the company,” said Rob McDougall, President and CEO of Gelson’s Markets. “In fact, we will be opening our first new store under TPG’s ownership in La Cañada Flintridge at the end of March. We hope this will be the first of many new store openings to come in the future, expanding Gelson’s legacy of providing quality service and products.”

Moelis & Company was the exclusive financial advisor to Arden Group. BMO Capital Markets acted as financial advisor to TPG.

© 2014 PEPD • Private Equity’s Leading News Magazine • 2-20-14

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