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
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 https://reut.rs/33NQebr Smart & Final in
2019 for about $1 billion and sold https://reut.rs/2QiSFQo its
warehouse unit last year for $970 million to US Foods Holding
Smart & Final generated revenues of about $4.1 billion and
adjusted core earnings of $167 million, for the fiscal year
ended Jan. 3.
After closing of the deal, Smart & Final will operate as a
separate operating unit within GCC, with limited integration.
(Reporting by Arunima Kumar in Bengaluru; Editing by Rashmi