Discount supermarket chain Grocery Outlet is exploring a sale that is expected to value the bargain retailer at more than $1 billion, according to people familiar with the matter. Grocery Outlet's private-equity owner, Berkshire Partners LLC, has hired Barclays and Goldman Sachs to run a sale process for the Berkeley, California-based food market chain, the people said on Monday.Grocery Outlet bets on U.S. consumer frugality in lean economic times, offering about half off traditional supermarket prices by selling manufacturers' excess inventory.All the people asked not to be named because the matter is not public. Representatives for Grocery Outlet and Goldman Sachs did not immediately respond to requests for comment. Berkshire Partners and Barclays declined to comment.Supermarket deals have been on the upswing, with Kroger Co purchasing Harris Teeter last year and private-equity firm Cerberus Capital Management LP striking a $9 billion deal for Safeway Inc.
The Kroger Co. is a retailer in the United States. Shares of KR traded higher by 0.45% or $0.21/share to $47.36. In the past year, the shares have traded as low as $32.83 and as high as $48.56. On average, 3413230 shares of KR exchange hands on a given day and today's volume is recorded at 463162.
Safeway Inc. (Safeway) is a food and drug retailer in North America. Shares of SWY traded higher by 0.38% or $0.13/share to $34.22. In the past year, the shares have traded as low as $20.01 and as high as $36.03. On average, 3510470 shares of SWY exchange hands on a given day and today's volume is recorded at 366805.
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