Fiesta Mart sold again, creating even bigger Hispanic-focused grocer

[Elderberry]

Houston Business Journal By Olivia Pulsinelli 3/25/2018

Houston-based Fiesta Mart LLC has been sold for the second time in three years, according to a March 25 press release.

Paramount, California-based Bodega Latina Corp., a subsidiary of Mexico-based Grupo Comercial Chedraui S.A.B. DE C.V. that operates the El Super grocery chain, has agreed to acquire Fiesta Mart. The deal values Fiesta Mart at as much as $300 million, including debt, people with knowledge of the discussions told the Wall Street Journal.

The deal, which is expected to close at the beginning of the second quarter of 2018, comes almost exactly three years after Washington, D.C.-based international private equity investment firm Acon Investments LLC acquired Fiesta Mart in April 2015.

After the deal closes, Bodega Latina will own 122 stores across California, Arizona, Nevada, New Mexico and Texas, and the combined company’s annual revenue will be around $3 billion. It will be one of the largest Hispanic-focused supermarket companies in the U.S. Fiesta Mart’s 63 stores — primarily in the Houston and Dallas areas — will continue to operate under their existing brand.

More: https://www.bizjournals.com/houston/news/2018/03/25/fiesta-mart-sold-again-creating-major-hispanic.html

[Frank Cannon]

California-based Bodega Latina Corp., a subsidiary of Mexico-based Grupo Comercial Chedraui S.A.B. DE C.V. that operates the El Super grocery chain


Money Laundering?

[IsailedawayfromFR]

I used to shop at Fiesta when I lived in Houston.  Had a lot of international food, which is the main reason I visited.

[Elderberry]

Fiesta is where I mostly shop at, since the Kroger and HEB that were close by closed.