GRP Partners made their first investment in Costco Wholesale Corporation in 1984 when it had approximately three locations. Today, Costco is one of the largest retailers in the world with over $77 billion in annual revenues. Costco operates membership warehouses that offer very-low prices on a limited selection of branded and selected private-label products in a wide range of merchandise categories. Costco operates more than 580 warehouse clubs in the United States, Canada, the United Kingdom, Korea, Taiwan, Japan and Mexico. The Company buys nearly all of its merchandise directly from manufacturers for shipment either directly to Costco’s selling warehouses or to a consolidation point where various shipments are combined so as to minimize freight and handling costs.