Grocery Outlet Inc., a privately held discount supermarket chain with a number of Sacramento-area stores, said Tuesday it’s being acquired by new investors.
The Emeryville chain, which sells major grocery brands at discount prices, said in a statement that it has enterered “a definitive agreement” with Hellman & Friedman LLC, an investment firm with offices in San Francisco and New York. Financial terms were not disclosed. The chain’s previous principal owner was Berkshire Partners, a Boston investment firm.
Founded in 1946, Grocery Outlet’s niche is offering significant discounts on major grocery items by buying up surplus inventory from more than 3,000 suppliers. The chain operates more than 210 stores in six states, including locations in Elk Grove, Davis, Sacramento and West Sacramento.
By year’s end, Grocery Outlet plans to open 16 new stores, including locations in Fresno and Turlock.