Grocery discounter Grocery Outlet Inc. is drawing interest from a slew of private-equity firms as the company enters the second auction round in a sales process that could fetch up to $1.2 billion, according to the Wall Street Journal.
The suitors going head-to-head for Grocery Outlet include Bain Capital, Hellman & Friedman LLC and Roark Capital Group. Companies involved in the first round that bid less than $1.1 billion were not asked to return for the second round, the Journal reported. There are no corporate bidders currently involved in the sales process.
The Berkeley-based supermarket chain operates more than 200 stores across the U.S. It sells brand name grocery items, toys and gifts at discount prices compared to traditional retailers, and caters to lower-income shoppers. Berkshire Partners is listed as backer.
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