Houston-based Fiesta Mart will become part of the largest Hispanic-focused grocery store chain in the United States after its acquisition by the California-based Bodega Latina Corp.
The sale is expected to close this summer.The terms of the deal weren’t disclosed. Fiesta stores will retain their name.
The acquisition will bring Bodega Latina’s grocery holdings to 122 stores across California, Arizona, New Mexico and Texas with a combined revenue of about $3 billion annually. Bodega Latina is owned by Mexican supermarket conglomerate Grupo Comercial Chedraui.
Fiesta Mart invested in Oak Cliff at a time when no other retailers would, opening a new store on the site of the old Sears store on West Jefferson in 1993 and another on South Lancaster in 1995.
“The acquisition of Fiesta allows us to meaningfully expand into Texas via an established, well known supermarket operator. … We believe this transaction will be beneficial for all of our stakeholders, including customers, suppliers, employees, and vendors,” Bodega Latina president and CEO Carlos Smith stated in a media release.