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Mexican grocer Grupo Comercial Chedraui to buy Smart & Final Holdings in $620 mln deal


By Reuters Staff
2 Min Read
May 13 (Reuters) - Grupo Comercial Chedraui said on Thursday its unit would buy warehouse store business Smart & Final Holdings Inc for $620 million, including debt, as the Mexican grocer looks to expand its footprint in the United States.
Private equity firm Apollo Global Management Inc is selling Smart & Final to Grupo Comercial Chedraui’s (GCC) subsidiary Bodega Latina Corp.
The deal is expected to close in the second or the third quarter, pending U.S. and Mexican regulatory approvals and other customary closing conditions.
Apollo acquired reut.rs/33NQebr Smart & Final in 2019 for about $1 billion and sold reut.rs/2QiSFQo its warehouse unit last year for $970 million to US Foods Holding Corp. ....

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