Berkshire Partners to invest in grocery retailer
Boston Private-equity firm Berkshire Partners said Tuesday it has signed an agreement to make an equity investment in Grocery Outlet, an extreme-value grocery retailer with over 135 stores in the Western United States.
Terms of the transaction were not disclosed.
Headquartered in Berkeley, Calif., Grocery Outlet is a third-generation family-owned business that was founded in 1946. Grocery Outlet stores are managed by local, independent operators.
“We believe Grocery Outlet has a unique operating model that offers customers tremendous values on brand names they trust in a friendly, high-quality shopping environment. Over the past few years, Grocery Outlet has successfully invested in broadening its product offering, improving its marketing efforts and opening new stores,” said Chris Hadley, managing director of Berkshire Partners.
Other Berkshire Partners investments include National Vision, an operator of value-oriented vision centers; Party City, a retailer of party goods; and Savers, a retailer of secondhand merchandise.
Target and Zinio team up for digital newsstand
MINNEAPOLIS and SAN FRANCISCO, Calif. Target and Zinio announced a partnership to extend access of their global portfolio of publications, including the most popular consumer titles, to Target guests worldwide.
Complementing the e-reading devices available for purchase on Target.com, the private-label newsstand site, target.zinio.com, features a vast selection of digital versions of the most popular U.S. and international single-issue, subscription and archived issues at discounted prices.
Target.com guests will be directed to a co-branded digital newsstand that showcases various publications. Target will market and promote its digital newsstand online and in stores nationwide. Popular titles include Elle, Parenting Early Years, Parenting School Years, Popular Science and Woman’s Day.
Shop at Macy’s for a cause
NEW YORK, N.Y. Macy’s announced its fourth Annual “Shop For a Cause” charity shopping event. This year’s Shop For A Cause event will take place at all Macy’s stores and on macys.com on Saturday, Oct, 17.
For “Shop for A Cause,” Macy’s donates shopping passes to participating charities in all of its markets across the country. The shopping passes are then sold by the charitable organizations for $5 each in the weeks leading up to the event. The organizations keep 100% of the proceeds from the sale of the shopping pass. Pass holders can redeem their passes at any Macy’s store or online at macys.com on Oct. 17 to receive 20% off most men’s, women’s, kids and accessories merchandise, 10% off most home items and 25% off a single item. Shopping passes are also sold at Macy’s stores from Sept. 1 through Oct. 17 and at macys.com on Oct. 17, with 100% of the proceeds from the sale of the pass to benefit designated charitable organizations including Feeding America and local food banks as part of Macy’s national “Come Together” campaign that aims to provide 10 million meals for the hungry and to other designated charities.
Local charities can register to participate in Macy’s Shop For A Cause by logging onto www.macys.com/shopforacause. Customers wanting to purchase a ticket to benefit a specific non-profit organization can look up participating charities on www.macys.com/shopforacause.