A consortium led by US wholesaler Grocers Supply Company has sealed a deal to acquire the Carnival Supermarket brand and 37 stores from Minyard Food Stores.
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The Houston-based wholesaler, owner of Fiesta Mart, is focused on the high-growth Latino grocery sector.
“The upcoming acquisition is a validation of our concept and the success of our Carnival brand,” said Minyard president and CEO Michael Byars.
“It proves what we’ve said all along about the growing power and influence of Hispanics in North Texas. Added to Fiesta’s 15 DFW stores, our Carnival brand and outlets will further establish a substantial Latino-themed retail presence throughout the Metroplex.”
Grocers Supply will acquire 23 Carnival supermarkets, five Minyard, five fuel centres and nine Sack’n Save warehouse stores.
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By GlobalDataIt is expected that Fiesta Mart will acquire 11 of these stores and other retail customers of Grocers Supply will acquire most of the remaining stores, the company said.
The deal is expected to close by the end of the year.
Minyard will continue to operate its remaining 21 Minyard stores.
“We will continue to be a fixture across the Metroplex by tailoring our products and services to meet the needs of the neighbourhoods we serve. This agreement will allow us to sharpen our focus and resources on the Minyard banner,” Byars said.
