Apollo Global Eyes $1.5B Sale Of Hispanic Grocery Chain Heritage Grocers Group: Report
Synopsis
- According to a Reuters report, the move comes at a time when there has been a decline in consumer demand in Latino communities across the U.S.
- Reuters noted that Apollo Global was in talks with investment bank UBS regarding the sale of the grocery chain.
- Heritage Grocers Group makes more than $2 billion in revenue.
Apollo Global Management (APO) is reportedly exploring a sale of its Hispanic grocery chain Heritage Grocers Group, in a deal that could value the company around $1.5 billion.
According to a Reuters report, citing people familiar with the matter, the move comes at a time when there has been a decline in consumer demand in Latino communities across the U.S. due to growing concerns over immigration enforcement.
How Much Revenue Does Heritage Grocers Generate?
The report noted that Apollo Global was in talks with investment bank UBS regarding the sale of the grocery chain.
The people told Reuters that Heritage Grocers Group makes around $150 million in earnings before interest, taxes, depreciation, and amortization and generates more than $2 billion in revenue. The grocery chain owns El Rancho Supermercado, Cardenas Markets, and Tony's Fresh Market under its banner.
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