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West Hollywood News

Gelsons Market Considered For Sale
Posted by Chet Kincaid on Jul 20, 2013 - 9:54:04 AM

WEST HOLLYWOOD—Upscale supermarket chain, Gelsons is being considered for sale.

Arden Group Inc., the Compton-based parent company is behind the possible sale of the chain or is at least looking at other possible options.

An initiated process is in motion to "explore and evalute strategic alternatives," the parent company said in a statement.

gelson_s_market.jpg
Gelson's Market In West Hollywood

The 16-store-supermarket-chain is known for its loyal celebrity following. However, Gelson's Market meets fierce competition in other upscale supermarkets, such as Whole Foods and Trader Joe's.

Competition also comes in the form of AmazonFresh, created by online giant Amazon, which was released last month. The new service partners with local vendors that strictly deliver from Seattle to Los Angeles, for the time being.

When trying to reach out to Arden Group Inc., the company refused to further comment on the future stake of the upscale supermaket chain.

The company has hired Moelis & Company, as its sole financial adviser for its strategic review process. There is no current deadline for this process, which may or may not end in a sale of the Gelson's supermarket chain.



 

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