Gelson's parent Arden hires advisers to explore sale, other options
LOS ANGELES, July 15
LOS ANGELES, July 15 (Reuters) - Arden Group Inc, which owns 16 upscale Gelson's Markets in Southern California, on Monday said it has hired advisers to explore and evaluate a possible sale or other strategic alternatives.
The supermarket company, which retained Moelis & Co, said it has not made a decision to pursue any specific strategic transaction. It declined further comment.
The North American grocery industry recently has seen a spate of deals as it faces competition from a bevy of retailers ranging from Wal-Mart Stores Inc and Target Corp to dollar stores.
High-end operators, particularly Whole Foods Market Inc , have been outperforming the industry overall. Supervalu Inc sold Gelson's local rival Bristol Farms to management and Endeavour Capital in late 2010.