Japanese Retailer PPIH to Acquire Gelson's Markets
The Gelson's market at Westfield Century City in Los Angeles, California. Japanese retailer Pan Pacific International Holdings (PPIH) has entered into a definitive agreement to acquire Gelson’s Markets, signaling a possible period of accelerating growth for the upscale California grocery chain. The deal is expected to close in the second quarter of 2021. Gelson’s, which operates 27 stores and was founded in Burbank, California, in 1951, was acquired by private equity firm TPG Capital in 2014. The grocer, which will celebrate its 70th anniversary in July, added 10 locations whi...
Source: progressivegrocer.com