Gelson's is a regional supermarket chain operating in Southern California. It operates service-oriented stores mostly in upscale neighborhoods.[2]
History
According to the chain's website, the chain likely originated around the 1929 stock market crash. In 1948, Arden Farms Company merged Mayfair Markets and 48 California Van Markets into a new chain called "Mayfair Markets." By the mid-1960s, it had expanded to neighboring states with over 250 stores. However, as larger supermarkets gained popularity, most of these stores were sold off. Eventually, upscale Mayfair stores were renovated and became Gelson's branches.[3]
The first Gelson's supermarket was opened in July 1951 by Bernard and Eugene Gelson.[4] The second store opened in 1960 in Encino and the third store opened in 1965 in North Hollywood.[4]
In 1966, Arden Group acquired Gelson's.[5]
In February 2014, Arden Group sold Gelson's to TPG Capital for $394 million.[6][7]
In 2015, the company acquired 8 stores from Haggen for $36 million.[8]
In November 2017, Bob Mariano joined the board of directors of the company.[9]
In February 2021, Gelson's Markets was acquired by Pan Pacific International Holdings (PPIH), the parent company of Japanese retailers Don Quijote and Marukai Corporation.[10]
References
- ^ "Wegmans Food Markets: Grocery & Meal Delivery or Curbside". Wegmans.
- ^ Zwiebach, Elliot (October 17, 1994). "Gelson's Sees New Growth Opportunity". Supermarket News.
- ^ "History of Gelson's", Gelson's Market official website
- ^ a b "Bernard Gelson, 84; Built Chain of Upscale Markets". Los Angeles Times. January 13, 2005.
- ^ "Gelson's parent Arden to be sold to investment firm TPG". Los Angeles Times. December 21, 2013.
- ^ Calvey, Mark (February 19, 2014). "TPG Capital buys Los Angeles specialty grocer for $394 million". American City Business Journals.
- ^ "Arden Group, Inc., Parent of Gelson's Markets, Announces Completion of Acquisition by TPG" (Press release). Business Wire. February 19, 2014.
- ^ MOLNAR, PHILLIP (November 16, 2015). "Gelson's CEO has high hopes for San Diego". The San Diego Union-Tribune.
- ^ Boss, Diana (November 2, 2017). "Mariano joins Gelson's board". Supermarket News.
- ^ "Gelson's Markets to be sold to Japanese retailer PPIH". 24 February 2021.
