Warehouse stores

Chedraui buys a chain of 254 warehouse stores in the United States


New

A Smart & Final store in California.

Smart & Final stores are located in California, Arizona and Nevada

The Chedraui supermarket chain has purchased 254 US warehouse stores located in California, Arizona and Nevada.

The US $ 620 million transaction sees Chedraui, through its US subsidiary Bodega Latina, acquire the Smart & Final brand from private equity firm Apollo Global Management, which acquired the company for around US $ 1.2 billion in 2019 .

Smart & Final achieved around $ 4.1 billion in revenue last year and has 198 stores under Smart & Final Extra! brand and 56 Smart & Final stores.

Chedraui opened its first supermarket in 1971 in Xalapa, Veracruz, having been founded as a clothing store 44 years earlier by Lebanese immigrants. It operates more than 200 stores in central and southern Mexico and is the third largest retailer after Walmart and Soriana.

Chedraui first entered the United States in 1997 with El Super supermarkets in California, Nevada, Arizona, New Mexico and Texas, and acquired the Fiesta Mart chain in Texas in 2018.

Smart & Final CEO David Herz spoke optimistically about joining Chedraui. “Under the ownership of Grupo Comercial Chedraui and Bodega Latina, Smart & Final will benefit from their guidance given their recognized and established position in the food retail industry, while bringing our own best practices and experience. Together, we will further accelerate our collective growth, ”he said.

Source: International retail and leisure


Leave a Reply

Your email address will not be published.