Mexico's Grupo Comercial Chedraui to buy Fiesta Mart
Mexican grocer Grupo Comercial Chedraui has bought Fiesta Marts, a Texas-based supermarket chain, for an undisclosed sum.
Chedraui’s California-based division, Bodega Latina Corp., has said that it is going to buy Fiesta Mart and all of its 63 stores in a supermarket tie-up that will create one of the largest Hispanic-focused grocery chains in the US.
Chedraui already runs 59 El Super grocery stores and has acquired 63 more stores from Texas-based Fiesta Marts, making a total of 122 stores across California, Arizona, Nevada, New Mexico and Texas.
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There are 55mn Hispanic consumers in the US according to the Census Bureau, with the number projected to double by 2060.
What’s more, a recent report by Nielsen, says that the demographic spends $175 more per year than other consumers on high-value fresh foods.
Over 50% of the population lives within the five states where grocer operates, according to the firm.
"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,” he added.
Founded 46 years’ ago to cater to the Hispanic population, Fiesta Mart has struggled in recent years to maintain consumer footfall amid mounting competition from grocery rivals such as Walmart.
"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," Sid Keswani, CEO of Fiesta, added.
Jim Donald appointed the CEO of Albertsons
Donald, who previously worked as the company...
The Idaho-based grocery chain, Albertsons, has appointed Jim Donald as its new Chief Executive Officer.
Donald, who previously worked as the company’s President and Chief Operating Officer, will keep his presidential role.
The new CEO will replace Bob Miller, who will continue in his position as Chairman of the Board.
“Jim Donald has built an exceptional career in retail,” remarked Bob Miller.
“His knowledge of our company and industry is unmatched, and I know his contributions will be invaluable as we enter the next chapter of Albertsons Companies.”
“We look forward to tapping his experience in leading large consumer brands as we work every day to meet our customers’ needs, both in-store and online.”
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In his career, Donald has held positions such as the CEO of Starbucks and the CEO of Pathmark Stores.
The newly-appoint CEO also worked for Albertsons for 15 years, starting 1976, becoming the Vice President of Operations in Arizona.
“Albertsons Companies is uniquely positioned to operate in both a 'four walls' traditional environment and the 'no walls' world of technology,” stated Jim Donald.
“We serve 34 million customers each week across our 2,300-plus stores and serve 5.5 million patients in our 1,700-plus pharmacies.”
“That's a significant food, health and wellness footprint. We're well positioned to serve the evolving needs of today's customer, wherever and whenever they choose to shop with us.”
“I am looking forward to leading this dynamic company as we focus on innovation and customer-centric retailing in all its forms.”