Author: Mark Hamstra
The private equity firm that owns Gelson’s Markets’ has agreed to sell the 27-store, upscale chain, based in Encino, California, to global retailer Pan Pacific International Holdings, which operates 638 stores, mostly in Japan.
In addition to its 582 Japanese locations, PPIH operates stores in Singapore, Hong Kong, Thailand, Taiwan, and in Hawaii and California in the U.S. It is primarily known for its Don Quijote discount banner in Japan commonly referred to by its nickname “Donki” which it also operates in Hawaii. In California, it has locations under the Marukai, Tokyo Central Specialty Market, and Tokyo Central & Main banners, mostly in the Los Angeles area, where Gelson’s operates all of its stores.
Owner TPG Capital slated to close transaction in second quarter
Southern California grocer Gelson’s Markets is being acquired from owner TPG Capital by Tokyo-based Pan Pacific International Holdings (PPIH), the parent company of Japanese retailers Don Quijote Co. Ltd. and Marukai Corp.
Financial terms of the agreement, announced late Tuesday, weren’t disclosed. Encino, Calif.-based Gelson’s operates 27 upscale supermarkets from Santa Barbara to San Diego, mostly along the Southern California coast and in the Los Angeles area but also with one location in Rancho Mirage, near Palm Springs. The chain is slated to mark its 70th anniversary in July.