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.
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