BERKELEY, Calif. — Berkshire Partners, Boston, has signed a definitive agreement to make an equity investment in Grocery Outlet, a chain of extreme-value discount stores based here.
The company oversees 135 stores — operated by independent owners — in Arizona, California, Idaho, Nevada, Oregon and Washington under the Grocery Outlet Bargain Markets banner, with annual sales exceeding $500 million. Terms of the transaction were not disclosed.
"We believe Grocery Outlet has a unique operating model that offers customers tremendous values on brand names they trust in a friendly, high-quality shopping environment," said Chris Hadley, managing partner at Berkshire. "We believe it is very well positioned for future growth."
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