Grocery Outlet Goes Public

Grocery Outlet Bargain Market (Emeryville, CA) made its public debut at Nasdaq Thursday, Supermarket News reported.

The company opened at $31 per share of common stock, ahead of its projected price of $22, with a public offering of more than 17 million shares. The offering is expected to generate $378 million in profits, which Grocery Outlet says will be used to pay down debt, according to Market Realist.

Grocery Outlet is an extreme-value chain that provides reduced, overstock and closeout items from name brand companies and private labels.