The private-equity parent of Smart & Final plans to sell the warehouse-style grocery chain to Bodega Latina Corp., a subsidiary of Mexican retailer Grupo Comercial Chedraui.
Bodega Latina will acquire Smart & Final Holdings for approximately $620 million from the private equity firm Apollo Global Management, which owns the chain. Apollo acquired Smart & Final in 2019 for $1.1 billion in a leveraged buyout.
Smart & Final operates 254 stores under the Smart & Final Extra and Smart & Final banners in California, Arizona, and Nevada. The 150-year-old company had revenue of about $4 billion in 2021, with roughly 70% of sales from household customers and 30% from business customers.
Grupo Comercial Chedraui is one of Mexico's leading retailers, with more than 200 Chedraui supermarkets, hypermarkets, and warehouse stores in more than 25 cities in central and southern Mexico. Most stores operate under the Chedraui banner, but the retailer also owns about 40 El Super supermarkets in California, Nevada, and Arizona that cater to Hispanics.
Smart & Final operates 254 stores under the Smart & Final Extra and Smart & Final banners in California, Arizona, and Nevada. The 150-year-old company had revenue of about $4 billion in 2021, with roughly 70% of sales from household customers and 30% from business customers.
Grupo Comercial Chedraui is one of Mexico's leading retailers, with more than 200 Chedraui supermarkets, hypermarkets, and warehouse stores in more than 25 cities in central and southern Mexico. Most stores operate under the Chedraui banner, but the retailer also owns about 40 El Super supermarkets in California, Nevada, and Arizona that cater to Hispanics.