Arden Agrees to Sale for $394 Million

LOS ANGELES —  Arden Group here, parent company of Gelson's Markets, said late Friday it has entered into a definitive agreement to merge the 17-store chain into TPG, a global private-investment firm, in a cash transaction valued at approximately $394 million.

Carrie Wheeler, a partner in TPG, said Gelson's is "an iconic Southern California supermarket chain, [and] we look forward to working with the team to further expand its footprint."

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