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.