Grocery Outlet, Inc., the largest “extreme-value” grocer in the U.S., today announced the successful completion of its acquisition by affiliates of Hellman & Friedman LLC and the Grocery Outlet senior management team from Berkshire Partners LLC.

Grocery Outlet offers branded grocery products at significant discounts through a unique sourcing model of purchasing discounted surplus inventory directly from over 3,000 supplier partners. The company was founded in 1946 by Jim Read and continues to be operated by the Read family, with third generation family members MacGregor Read and Eric Lindberg currently leading the business as Co-Chief Executive Officers. Grocery Outlet has a network of more than 210 stores across six states, which are managed principally by local, independent operators.

“We are excited to partner with Hellman & Friedman to build on the success of Grocery Outlet and develop new opportunities for growth,” said MacGregor Read and Eric Lindberg, Co-CEOs of Grocery Outlet. “Grocery Outlet has a 68-year history of bringing extreme value to customers and building trusted partnerships with suppliers and we look forward to continuing that tradition for years to come.”

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