Tuesday, April 23, 2019

Smart & Final acquired in $1.1 billion deal

Chain Store Age
Smart & Final Stores has been acquired and the buyer is the retailer’s previous owner.

Apollo Global Management said it will acquire Smart & Final in an all-cash transaction for $6.50 per share in cash, with an enterprise value of about $1.12 billion. The private equity firm had previously bought Smart & Final in 2007, and then sold the retailer to Ares Management in 2012 for $975 million, including debt. Smart & Final went public in 2014, but remained majority owned by Ares. . . . more