Stout is pleased to present our 2023 Grocery Retail Industry Annual Update. We hope that you find this report helpful and that it serves as a valuable resource to you in staying up to date on the market.

We look forward to staying in touch and encourage you to contact us directly if you would like to discuss our perspectives on current market trends or potential M&A opportunities, or to discuss our relevant advisory experience.

Overview for This Edition

• Key Insights and Observations
• U.S. Macroeconomic Trends
• Industry Dynamics Propelling Growth
• Public Market Update and Performance
• Global 2023 M&A Highlights