Smart & Final to be acquired by Mexican retailer

Apollo Global Management, the private equity firm that owns Smart & Final, has announced a plan to sell the warehouse-style grocery chain to Bodega Latin Corp., a subsidiary of Grupo Comercial Chedraui, in a deal valued at $620 million. CEO David Hirz is expected to continue leading Smart & Final, which operates 254 stores in Arizona, California and Nevada. It also has 16 stores operating in northwestern Mexico.