(Houston Business Journal) -- 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.
