Grocery Outlet Holding Corp (GO) has released an update.
Grocery Outlet Inc. has struck a deal to purchase all outstanding capital stock of BBGO Acquisition, Inc. for approximately $62 million in cash, with plans to fund the acquisition using its available cash reserves. Through this transaction, Grocery Outlet will gain ownership of United Grocery Outlet, which operates 40 discount grocery stores across the southeastern United States. The agreement includes standard assurances and conditions, with a closing expected in early Q2 of fiscal 2024, and contains provisions for termination under certain conditions. The company has publicized the agreement details through a press release.
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