70°

Topics

Tesco plc
Gelson's Markets parent Arden to explore possible sale
Gelson's Markets parent Arden to explore possible sale

Arden Group Inc., the Compton parent of the upscale Gelson’s Markets chain, said Monday that it is considering selling the company or looking into other options. Board members “initiated a process to explore and evaluate strategic alternatives, which may include a possible sale,” the company said in a statement. Arden, which owns 16 Gelson’s across Southern California, said it retained Moelis & Co. as its sole financial adviser during the review. The supermarket chain said it hadn’t made a decision to pursue any specific moves and said it had “no defined timeline” for its evaluation. It also declined to comment further. In mid-day trading in New York, Arden stock was up nearly 20%,...

Loading