Gelsonís Also Announces the Opening of La CaÑada Flintridge Store End
LOS ANGELES--(BUSINESS WIRE)--
Arden Group, Inc., parent of Gelsonís Markets, an operator of 17
distinctive, full service specialty grocery stores in Southern
California, announced today that it has completed its previously
announced acquisition by TPG, a leading global private investment firm.
The merger agreement was approved by the Companyís Board of Directors on
December 20, 2013. Under the terms of the agreement, Arden Groupís
shareholders will receive $126.50 per share in cash for each share of
Arden Groupís common stock they hold. As a result of the transaction,
Ardenís stock is no longer listed for trading on the NASDAQ stock
ďWith TPGís retail experience and financial support, we are confident
that we can profitably grow Gelsonís, and we are excited to embark on
this new phase for the Company,Ē said Rob McDougall, President and CEO
of Gelsonís Markets. ďIn fact, we will be opening our first new store
under TPGís 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 Gelsonís legacy of providing quality service and
About Arden Group/Gelsonís Markets
Arden Group, Inc. is the parent company of Gelsonís Markets, founded in
1951, which now operates 17 full-service specialty grocery stores in
Southern California. Gelson's Markets is recognized as one of the
nation's premier supermarket chains. Each location is singularly known
as the area's best market for superior produce, highest quality meat,
seafood and deli, an unmatched selection of wine and liquor, and
exceptional service. For more information about Gelsonís Markets, visit www.gelsons.com.
TPG is a leading global private investment firm founded in 1992 with
$55.7 billion of assets under management and 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. The firm has extensive experience with public and
private investments around the world. TPG has invested in a number of
leading retail franchises including Burger King, Daphne International,
China Grand Auto, J.Crew, Myer, Neiman Marcus Group, Petco, and Savers,
among others. For more information visit www.tpg.com.
For Gelsonís Markets:
Yvonne Manganaro, 818-906-5772
of Marketing, Gelson's Markets
Owen Blicksilver Public Relations, Inc.
Source: Arden Group, Inc.