Chedraui to Buy Fiesta Mart for $300 Million in Major Grocery Deal
Fiesta Mart merging with El Super
HOUSTON – Fiesta Mart, a Houston-based grocery chain operating 63 stores, will be acquired by Grupo Comercial Chedraui, the Mexico-based retailer, in a transaction valued at $300 million.
Chedraui already operates roughly 60 supermarkets under the El Super banner across California and other U.S. states. The acquisition of Fiesta Mart strengthens Chedraui’s position as a major national grocer serving Spanish-speaking communities in the United States.
Chedraui is purchasing Fiesta Mart from ACON Investments, a Washington, D.C.-based private equity firm that has owned the chain for approximately three years.
Fiesta Mart’s footprint includes 32 locations in the greater Houston area and additional stores in Dallas and Austin.
Founded in Houston in 1972 by Donald Bonham and O.C. Mendenhall, Fiesta Mart has long focused on serving diverse, multicultural neighborhoods.
The El Super network is managed by Bodega Latina Corporation, headquartered in Paramount, California; Bodega Latina is a subsidiary of Chedraui, which is based in Veracruz, Mexico.
“The acquisition of Fiesta allows us to meaningfully expand into Texas via an established, well-known supermarket operator,” said Bodega Latina CEO Carlos Smith. “We look forward to welcoming Fiesta’s talented employees and working together to build the premier Hispanic grocery retailer.”
Currently, the company operates 59 El Super stores across California, Arizona, Nevada, New Mexico and Texas.
