Bodega Latina to Buy 7 Gigante Stores

May 29, 2008 6:00 AM, By ELLIOT ZWIEBACH


         Subscribe in NewsGator Online   Subscribe in Bloglines

COMMERCE, Calif. — Bodega Latina Corp. here, operators of nine El Super supermarkets, said yesterday it has signed a definitive agreement to purchase the seven Southern California stores operated by Gigante USA. Terms of the transaction were not disclosed; the deal is expected to close in late August. Bodega Latina said it will convert the stores to the El Super banner. Mexico City-based Grupo Gigante, the parent company of Gigante USA, was sold earlier this year to Organizacion Soriana, Monterrey, Mexico, which implied at the time it would operate them. However, Bodega Latina said the agreement to purchase Gigante USA was "facilitated by an agreement" between Grupo Gigante Mexico and Soriana. The Gigante USA stores are located in Arleta, Anaheim, Compton, Covina, Inglewood, Santa Fe Srings and Los Angeles, and range in size from 45,000 to 77,000 square feet. El Super operates eight ethnic-oriented supermarkets in Southern California and one in Phoenix, whose sizes range from 40,000 to 48,000 square feet.  According to Carlos Smith, president and chief executive officer of Bodega Latina, "We believe that bringing the Gigante stores into the El Super family will provide synergies that will benefit both the company and consumers in Southern California."

Subscribe / Renew to Supermarket News

Supermarket News

The most reliable source of industry news and insight...in print and online.

Most Viewed News

Read More News

Retail Analytics
Brian Ross

View All Questions

Refresh: A Whole Health Blog

Bob Vosburgh

Bob Vosburgh:

Read More Refresh

Articles by Market
Retail/Financial
Executive Changes
Grocery/Center Store/
Brands
Health & Wellness
In-Store Bakery/Deli/Meals
Logistics
Marketing
Meat/Seafood/Dairy
Nonfoods/Pharmacy/HBC
Produce/Floral
Specialty/Ethnic
Technology
Key Issues
Food Safety/Recalls
Legislation/Regulations
Sustainability/Green
Resources
Profiles & Rankings
Webinars
White Papers/Studies
Whole Health Blog

Back to Top

Subscribe to SN

Latest Cover

IRI Fast Trends

Not much remains the same in the food-distribution industry, whether it's the marketing of supermarket departments, the advent of new formats or rapidly changing consumer preferences. See what's changing now in the latest IRI Time and Trends report.

SN Daily Update

newsletter image

The food trade’s leading daily news service. Register Here

Upcoming Events

Natural Products Expo East,
Oct. 15-18, 2008,
Natural Products Expo East, Boston Convention and Exposition Center; 303.939.8440.

PMA Fresh Summit,
Oct. 24-27, 2008,
Produce Marketing Association,
Orange County Convention Center,
Orlando, Fla.; 302.738.7100.

View All Upcoming Events

Jobs/Classifieds

View All Classifieds

Premium Content

Tesco

Tesco: F&E Results ‘Encouraging’

The first reported financial results of the fledgling Fresh & Easy chain revealed heavy losses and modest but improving sales, officials of parent company Tesco here said last week.

Supermarket News Secret's Out

Sign of the Times

Let's say Wal-Mart Stores wants to sell more carbonated soft drinks.

 

Supermarket News Sharper Image

Fresh Insights

The produce industry is once again gearing up for the Produce Marketing Association's annual Fresh Summit International Convention & Exposition, which will be held this year Oct. 24-27

 

Supermarket News Show Stoppers

Hot Item

As the fastest-growing demographic group in the United States, Hispanic shoppers have had the attention of food retailers for years now.

Supermarket News 
Green Pledge

Green Pledge

Driven by the need to cut energy costs, as well as by a desire to improve the environment, many food retailers have embraced a wide assortment of “green” strategies in recent years.