Arden Group, Inc. Announces Decision to Explore Strategic Alternatives
LOS ANGELES -- July 15, 2013
Arden Group, Inc. (Nasdaq:ARDNA) (“Arden Group” or the “Company”) announced
today that its Board of Directors has initiated a process to explore and
evaluate strategic alternatives, which may include a possible sale of the
Company. The Company has retained Moelis & Company as its exclusive financial
advisor to assist the Company in connection with the strategic review process.
The Company has not made a decision to pursue any specific strategic
transaction or any other strategic alternative, and there is no defined
timeline for this strategic review. There can be no assurance that the review
of strategic alternatives will result in the consummation of any transaction.
Arden Group does not intend to comment further regarding the evaluation of
strategic alternatives until such time as the Company’s Board of Directors has
determined that further disclosure is appropriate or required.
Arden Group, Inc. is the parent company of Gelson’s Market which operates 16
full-service supermarkets in Southern California carrying both perishable and
grocery products (with a new store currently under construction scheduled to
open in Long Beach later this year).
The Private Securities Litigation Reform Act of 1995 provides a safe harbor
for forward-looking statements made by or on behalf of the Company. Certain
statements contained in this press release are forward-looking statements.
These forward-looking statements reflect the Company’s current plans and
expectations and are based on information currently known to the Company. The
Company cautions readers that any forward-looking statements contained in this
press release involve risks and uncertainties and are subject to change. The
Company does not undertake any obligation to update forward-looking
statements. Readers should not place undue reliance on these forward-looking
statements, which speak only as of the date of this release. For more details
on factors that could affect these expectations, please see the risk factors
in the Company’s Annual Report on Form 10-K for the year ended December 29,
2012, filed with the Securities and Exchange Commission (the “SEC”) on March
11, 2013, and other periodic reports filed with the SEC, which are
incorporated herein. Our Annual Report on Form 10-K and other periodic reports
are available at the website maintained by the SEC at www.sec.gov.
Arden Group, Inc.
Patricia S. Betance
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