Arriba! Fiesta Mart sold and spending projections
HOUSTON – Houston-based Fiesta Mart LLC has been sold to Bodega Latina Corp., a subsidiary of Mexico-based Grupo Comercial Chedraui.
The deal values Fiesta Mart at as much as $300 million, including debt.
The deal is expected to close at the beginning of the second quarter 2018.
After the deal closes, Bodega Latina will be one of the largest Hispanic-focused supermarket companies in the U.S. Fiesta Mart’s 63 stores—primarily in the Houston and Dallas areas.
By 2022, it’s projected that Houston’s Hispanic spending will grow to about $77 billion, more than 25 percent of the total spending in the region.
In Harris County, 42 percent of the population—nearly 2 million people—is Hispanic, up 77 percent since 2000.
The Hispanic population in the Houston area is the third-largest Hispanic community in the U.S.
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