Gen Cap America Inc said Nov. 21 that it has acquired The Bargain Barn Inc. Financial terms weren’t announced. Bargain Barn, of Athens, Tennessee, is a close-out grocery outlet operating as United Grocery Outlet and GO Grocery Outlet. The company has 37 retail locations across Tennessee, North Carolina, Georgia, Kentucky, and Alabama.
Nashville, Tenn., November 21, 2017 – Gen Cap America, Inc. announced today that it has partnered with management in its acquisition of The Bargain Barn, Inc. (“Bargain Barn”). Based in Athens, Tennessee, Bargain Barn, which operates as United Grocery Outlet and GO Grocery Outlet, is one of the largest close-out grocery outlets in the eastern United States.
“We are extremely excited at the opportunity to partner with the top-notch management team at Bargain Barn,” Gen Cap America Vice President Andrew Ginsberg commented. “We believe the company has a promising future ahead as they build on their long track record of providing value to customers and solutions to manufacturers.”
Founded in 1974, Bargain Barn operates 37 retail locations across Tennessee, North Carolina, Georgia, Kentucky, and Alabama and currently has over 900 employees. Bargain Barn specializes in liquidating closeouts, factory seconds, irregulars, and overstocked products. Over its 43-year history, the company has cultivated longstanding relationships with large food manufacturers and has established itself as a preferred solutions provider in the secondary market.
The Bargain Barn management team, led by Gary Buchanan, Don Whitted and Lisa Bryson, will stay on to run the daily operations of the business.
Barney Byrd, President of Gen Cap America, added, “Bargain Barn’s strong management team and long history of success made the company an excellent fit with Gen Cap America’s investment philosophy and we look forward to supporting the company in its next phase of growth.”
About Gen Cap America
Gen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established lower middle market businesses. For more information, visit www.gencapamerica.com.