Grocery Outlet Adds Six New Stores
Berkeley, Calif., Responding to what it calls “consumer demand,” Grocery Outlet is expanding in the Northwest with the addition of six new stores in Oregon, Idaho, Nevada and Washington, and the relocation of two stores in Oregon. The new store openings bring to eight the number of stores that the value grocer has opened since November 2004 in the Northwest and Northern California. Each of the new stores will be run by Grocery Outlet independent operators, who have experience in other stores in the network. Grocery Outlet operates 118 extreme-value stores in the United States.
Investors Bid $5 Billion for Toys ‘R’ Us
Paramus, N.J., Aprivate-investment group led by Cerberus Capital Management LP has offered to buy Toys “R” Us Inc. for about $5 billion, according to today’s Wall Street Journal. Reportedly, the bid was placed last month, but garnered a cool response from Toys “R” Us.
In addition to Cerberus, the investment group includes Goldman Sachs Group Inc. and Kimco Realty Corp. Other suitors for the toy retailer reportedly include Kohlberg Kravis Roberts & Co.; a partnership between Apollo Advisors LP and Permira Advisors Ltd.; and an alliance between Bain Capital LLC and Vornado Realty Trust.
Staples to Sell Office Supplies in Ahold Stores
Framingham, Mass., Staples and Ahold USA forged an alliance under which the office-products retailer will sell its goods in Staples-branded aisles at Ahold supermarkets.
Staples will make its debut at Ahold’s 550 Stop & Shop and Giant-Landover supermarkets in July, in time for the back-to-school selling season. The aisles will stock between 500 and 1,200 school and office supplies, a good chunk of the 7,500 items Staples stores typically carry.
The arrangement mirrors a deal under which Albertsons sells some toys in its stores through a collaboration with Toys “R” Us. Albertsons also has a similar arrangement in some markets with Staples rival Office Depot.