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Gelson’s Parent Arden To Explore Possible Sale

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Last updated on July 17th, 2013 at 02:44 pm

Gelson’s Markets’ parent company, Arden Group Inc., said Monday that it is looking to possibly sell the company.

Board members “initiated a process to explore and evaluate strategic alternatives, which may include a possible sale,” according to a statement from Compton, Calif.-based Arden Group.

Arden owns 16 Gelson’s across Southern California. Though Gelson’s closed its store in Pasadena in mid-June, the company plans to open a new store in Long Beach later this year.

The supermarket chain said it hadn’t made a decision to pursue any specific moves and said it had “no defined timeline” for its evaluation. Arden also said in the statement that it would not comment further.

Key players and new entrants in the SoCal grocery industry have been roiled by change recently, according to the Los Angeles Times.

In April, British giant Tesco said it would pull out of the U.S. and attempt to sell its 5-year-old Fresh & Easy grocery project. The short-lived El Segundo chain failed to make any money during its run, the Times says.

Last month, discount supermarket company Aldi USA said it is “in the initial stages of discussions to potentially locate a warehouse” in Moreno Valley. The Inland Empire site would be the chain’s first entry into SoCal.

 

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