Los Angeles Business Journal

Parent of Gelson's Markets to Consider Sale

By Deborah Crowe Originally published July 15, 2013 at 2:50 p.m., updated July 15, 2013 at 1:47 p.m.

Arden Group Inc., owner of the tony Gelson's Market supermarket chain, said on Monday that it was it was considering strategic options, including a potential sale.

The Compton company said its board had not made a decision to pursue any specific transaction, but had hired Moelis & Co. as a financial adviser.

Gelson's has 16 locations in Los Angeles, Orange and Santa Barbara counties, with a 17th store scheduled to open later this year in Long Beach.

Arden shares closed up $19.75, or 18 percent, to $131 on the Nasdaq; its highest close in nearly four years.