Skip to main content
← All exclusions

GROCERY OUTLET HOLDING CORP

GO

Consumer Staples

1

exclusion reason

1 theme

Animal Welfare (1)
GO Consumer Staples Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Exploitation
Since Jul 28, 2021

Grocery Outlet Holding Corp. operates a network of over 470 discount grocery stores across the United States. Its business model is built on purchasing and reselling surplus and overstock products, which inherently includes a significant volume of animal-derived goods from industrial agriculture supply chains. The company's core operations are directly tied to the commercial systems of factory farming and animal exploitation.

The company has been publicly linked to campaigns targeting major grocery retailers for failing to uphold animal welfare commitments. In 2025, advocacy groups highlighted how large food retailers, including discount grocers, enable Big Agriculture to abandon animal welfare pledges by continuing to source from suppliers using caged and confined systems. While Grocery Outlet may not set its own animal welfare standards, its purchasing power and market presence support an industrial food system documented for systemic animal cruelty. This includes sourcing from pork producers like Iowa Select Farms, which has been the subject of undercover investigations alleging barbaric handling practices. By providing a primary retail outlet for surplus meat, dairy, and eggs, the company financially sustains the very production models that are the focus of animal cruelty exposés and ag-gag legislation designed to conceal abuse.

Research Sources 4 organizations

Wondering what we do invest in?

The Naughty List

A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.

RSS feed No spam · Unsubscribe anytime

Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.