Grocery Outlet to acquire United Grocery Outlet for $62 million
By Ben Glickman
Grocery Outlet Holding (GO) plans to acquire Southern value grocer United Grocery Outlet for $62 million.
The Emeryville, Calif.-based company said that the deal would come with 40 stores and a distribution center and would expand Grocery Outlet's presence into Tennessee, North Carolina, Georgia, Alabama, Kentucky and Virginia.
The company said in a regulatory filing that it would pay $62 million in cash to acquire the company. The deal will be financed with available cash.
Grocery Outlet expects the deal to close early in the second quarter.
The company said it also plans to open 15 to 20 stores in existing markets in 2024, in addition to the acquired stores.
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02-15-24 1857ET
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