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    CHDRAUI B   MX01CH170002

GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V.

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

05/13/2021 | 08:06pm EDT

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 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 Corp.

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 Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. 0.00% 62.99 Delayed Quote.28.60%
GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. -1.14% 33.79 End-of-day quote.17.49%
US FOODS HOLDING CORP. 2.31% 36.26 Delayed Quote.8.86%
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Analyst Recommendations on GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V.
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Financials
Sales 2021 167 B 8 310 M 8 310 M
Net income 2021 2 673 M 133 M 133 M
Net Debt 2021 37 996 M 1 891 M 1 891 M
P/E ratio 2021 11,6x
Yield 2021 1,32%
Capitalization 32 294 M 1 606 M 1 607 M
EV / Sales 2021 0,42x
EV / Sales 2022 0,37x
Nbr of Employees 51 218
Free-Float 47,7%
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Technical analysis trends GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V.
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TrendsBullishBullishBullish
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 33,79 MXN
Average target price 38,54 MXN
Spread / Average Target 14,1%
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Managers and Directors
José Antonio Chedraui Eguía Chief Executive Officer & Director
Humberto Tafolla Núñez Chief Financial Officer & Administration Director
Alfredo Chedraui Obeso Chairman
Pilar Rojas Suárez Director-Information Technology
Alberto Nava Gutiérrez Chief Operating Officer
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