PARAMOUNT, Calif. – Leading US Hispanic grocer El Super will acquire Fiesta Mart LLC, a Texas-based retailer operating 63 stores in the Dallas and Houston markets. The transaction is expected to close in the second quarter of 2018, subject to closing conditions.
Bodega Latina Corp., owner of El Super and subsidiary of Grupo Comerical Chedraui SAB de CV, opened its first store in South Gate, California, in June 1997. El Super currently operates 59 stores in 13 counties throughout California, Arizona, Nevada, New Mexico and Texas.
The combination of Bodega Latina and Fiesta creates one of the largest Hispanic-focused supermarket companies in the US, with a total of 122 stores across California, Arizona, Nevada, New Mexico, and Texas and revenues of approximately $3 billion.
"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. We believe this transaction will be beneficial for all of our stakeholders, including customers, suppliers, employees, and vendors. We look forward to welcoming Fiesta's talented employees and working together to create the premier Hispanic grocery retailer."
Sid Keswani, CEO of Fiesta, said, "Combining the strengths of Bodega Latina with those of Fiesta will accelerate the evolution and growth of Fiesta through combining the parties’ scale, geographic reach, talented teams, and market knowledge. Our team members are excited about becoming part of the Bodega Latina family and continuing to grow the combined company."
Fiesta stores will continue to operate under their own banner.