Ares Management, Canada Pension Plan Investment Board and Gold/Schiffer Family to Acquire 99 Cents Only Stores for $22.00 Per Share in Cash

99 Cents Only Stores

today announced that it has entered into a definitive agreement to be acquired by affiliates of Ares Management LLC and Canada Pension Plan Investment Board for $22.00 per share in cash, in a transaction with a total equity value of approximately $1.6 billion. Members of the Gold/Schiffer family have entered into a voting agreement in support of the transaction and will continue to hold a significant minority ownership stake. Eric Schiffer (CEO), Jeff Gold (President and COO), and Howard Gold (

) will continue in their current leadership roles at the Company and will serve as directors. Founder David Gold will serve as Chairman Emeritus.