Houston-based Fiesta Mart is part of a major deal to become part of one of the largest Hispanic food retailers in the country.
On March 25, Bodega Latina Corporation announced that it would be buying Fiesta Mart and all of its 63 stores — including 32 in the Houston area — by the beginning of the second quarter.
The retailers said they hope to enhance shopping with improved prices, quality, and customer service.
"The acquisition of Fiesta allows us to meaningfully expand into Texas via an established, well known supermarket operator. 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. We believe this transaction will be beneficial for all of our stakeholders, including customers, suppliers, employees, and vendors. We look forward to welcoming Fiesta's talented employees and working together to create the premier Hispanic grocery retailer," Carlos Smith, President and CEO of Bodega Latina, said.
"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, said.
The deal is expected to close later this year; it is not known yet how much it is worth.
Fiesta Mart stores won't change their name.
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