GO - Grocery Outlet Holding Corp. Closes Acquisition of United Grocery Outlet | Benzinga
EMERYVILLE, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ:GO) ("Grocery Outlet" or the "Company") today announced the closing of the previously announced acquisition of United Grocery Outlet ("UGO"), an extreme value, discount grocery retailer operating throughout the Southeastern United States, from affiliates of Gen Cap America, Inc. and current and former UGO management. 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.
"We are pleased to complete this transaction and extend our footprint into the Southeast," said RJ Sheedy, President and Chief Executive Officer of Grocery Outlet. "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 ...