Fiesta Mart has been acquired in a deal that will create one of the nation’s largest Hispanic-focused supermarket companies.
Bodega Latina Corp., which operates stores under the El Super banner and is a subsidiary of Mexico-based Grupo Comercial Chedraui, has agreed to acquire Fiesta Mart. Based in Houston, Fiesta operates 63 grocery stores primarily in the Dallas and Houston areas. In 2015, the company was acquired by private equity firm Acon Investments.
The combination of Bodega Latina and Fiesta will result in a company that operates 122 Hispanic-focused supermarkets across California, Arizona, Nevada, New Mexico, and Texas, with revenues of approximately $3 billion. Fiesta stores will continue to operate under their own banner after the deal is completed.
"The acquisition of Fiesta allows us to meaningfully expand into Texas via an established, well known supermarket operator,” said Carlos Smith, president and CEO of Bodega Latina. “Through the combination of the strengths of our two organizations, we will be well positioned to significantly accelerate our vision of efficiently offering high quality products at the lowest possible prices.”
The deal is expected to close at the beginning of the second quarter of 2018.