Several national discount grocery chains are racing to expand their footprints in the Southeast, which experienced the largest population growth of any region in the U.S. in 2023.
Grocery Outlet has acquired discount grocer United Grocery Outlet from Gen Cap America for $62M. The deal includes UGO's 40 stores in the Southeast, according to a regulatory filing.
"This acquisition provides Grocery Outlet with scale in a new region as well as a platform for future expansion in the Southeast," said R.J. Sheedy, Grocery Outlet's CEO, in a statement.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
