Advertisement

Apollo Sells Smart & Final to Bodega Latina for $620M

Smart & Final Bodega Latina
Share on linkedin
Share on twitter
Share on facebook
Share on reddit
Share on email

Bodega Latina — a subsidiary of Grupo Comercial Chedraui (GCC) — has agreed to acquire grocery chain Smart & Final from funds managed by Apollo Global Management for approximately $620 million.

Smart & Final is celebrating its 150th anniversary this year. The small-format warehouse chain operates more than 250 stores under two banners: Smart & Final and Smart & Final Extra!, in California, Arizona and Nevada. An additional 16 stores in Northwestern Mexico are operated through a joint venture. Smart & Final stores service both household and business customers, which represent approximately 70% and 30% of revenues, respectively.

Bodega Latina currently operates 61 El Super stores, three El Super Fresh stores and 59 Fiesta Mart stores across California, Arizona, Nevada, New Mexico and Texas. 

“Smart & Final, with a unique go-to-market and operating strategy, is an attractive fit that is aligned with our business strategy in the U.S., utilizing differentiated formats to focus on growing but underserved markets,” said Carlos Smith, President and CEO of Bodega Latina in a statement. “With a brand that resonates with consumers, geographic fit in key markets, and a consistent record of profitable growth, Smart & Final will complement the platform we’ve built with El Super and Fiesta.”

Advertisement

The deal is expected to close later this year. Smart & Final will continue to operate as a separate unit within GCC, with limited integration expected. The acquisition will bolster the Mexico-based company’s U.S. footprint while also diversifying its customer base, with combined pro forma sales in excess of $11 billion.

“We are excited about the combination of Grupo Comercial Chedraui and Bodega Latina with Smart & Final, which further scales and expands our U.S. footprint,” said José Antonio Chedraui Eguía, CEO of Chedraui in a statement. “This transaction reflects our continued commitment to serve customers, families and businesses in both the U.S. and Mexico.”

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: