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HISTORY & MILESTONES
Headquartered in Berkeley, California, Grocery Outlet Inc. has annual revenues exceeding $600 million. As a privately held company Grocery Outlet Inc. employs approximately 100 employees and has operator agreements with over 120 independent business people, in 6 Western states and Hawaii.
Jim Read founded the company in 1946 that is now Grocery Outlet Inc. From our modest beginnings in 1946, our philosophy has never wavered. We have always been in the business of providing our customers a fun place to find bargains on brands you trust!® And we offer our suppliers a professional, trustworthy partner to discretely move product without disrupting conventional retail channels of distribution. Since its beginnings Grocery Outlet Inc. has continued an impressive growth rate, as evidenced by the following milestones:
OUR HISTORY
1946
Jim Read purchases excess government surplus food products and puts them into vacant stores, starting "Cannery Sales" in San Francisco.
1948
Read and Nate Narin, his partner, convert stores to "US Markets".
1958
Read sells out interest in "US Markets" to Narin.
1959
Read acquires interest in "Big Bonus Foods," a 10 store Bay Area chain, selling regular and surplus merchandise, as well as perishables.
1970
Globe of California acquired. Name of both companies changed to Canned Foods. Business concept converted to factory seconds, closeouts and discontinued product.
1971
First supplier agreement, with Del Monte, signed. 1973
Canned Foods opens first independent store in Redmond, Oregon.
1982
Jim Read passes away suddenly; his sons, Peter and Steven, assume management control. Frozen Food category added.
1984
Canned Foods, Inc. celebrates $100 Million in sales. Deli category added.
1990
$250 million sales milestone.
1992
Retail stores renamed Grocery Outlet, to reflect a wider product offering.
1995
100th store opens.
1999
Fresh produce category added.
2001
$500 million sales milestone reached. Company acquires remaining liquidated inventories of Webvan and Wine.Com. Public awareness of Grocery Outlet heightened.
2002
Corporate name changed to Grocery Outlet Inc.
2005
11 new stores opened.
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