Mexico's Grupo Comercial Chedraui to buy Fiesta Mart

By Laura Mullan
Mexican grocer Grupo Comercial Chedraui has bought Fiesta Marts, a Texas-based supermarket chain, for an undisclosed sum. Chedraui’s California-based...

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. 

SEE ALSO:

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.


 

Share

Featured Articles

Diageo Trials new Baileys Paper-Based Bottle

Diageo trials a dry moulded fibre bottle made of 90% paper by partnering with PA Consulting, as part of the Bottle Collective with PA and PulPac.

Unilever CEO Schumacher Lays out Plastics Roadmap

Unilever CEO Hein Schumacher sets out a roadmap to a Global Plastics Treaty, in wake of controversy that saw company criticised for watering down ESG goals

Ahold Delhaize Targets Sustainability & Omnichannel Goals

Multinational food business Ahold Delhaize prioritises sustainability and omnichannel innovation as part of its new plan for financial and strategic goals

US Bird flu Turns Spotlight on Milk Pasteurisation

Drink

Nestlé 'Meeting Sustainability Targets on Nescafé Coffee'

Sustainability

Coffee Prices Soar as Extreme Weather Hits Brazil & Vietnam

Drink