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Bodega Latina Said to Eye Some K.V. Mart Stores
LOS ANGELES — Bodega Latina here is reportedly negotiating to acquire a handful of stores from K.V. Mart, according to various industry sources.
August 2, 2012
2 Min Read
LOS ANGELES — Bodega Latina here is reportedly negotiating to acquire a handful of stores from K.V. Mart, according to various industry sources.
Executives at K.V. Mart declined comment; executives at Bodega Latina could not be reached for comment.
K.V. Mart, Carson, Calif., has 24 stores with an estimated volume of $350 million. It operates three formats — conventional, warehouse and limited assortment. The reports indicated it might sell fewer than 10 locations.
Bodega Latina, based in Paramount, Calif., operates 36 stores — 30 in Southern California, four in Arizona and two in Nevada — under the El Super banner, with annual volume of approximately $950 million. Its majority owner is Grupo Comercial Chedraui, a 175-store, publicly traded retailer based in Mexico. The U.S. stores are geared to first- and second-generation Hispanics shoppers.
Read more: Major Players in the Hispanic Market
Bodega Latina has said it is committed to growing its U.S. store base. In 2008 it acquired seven stores in Southern California formerly operated by Mexico-based Gigante.
According to recent report in the Wall Street Journal, Grupo Comercial Chedraui last month said it was negotiating to purchase eight stores in Southern California, although the article did not identify the stores. It said it planned to operate the acquired locations under the Bodega Latina format.
The company’s U.S. same-store sales were down 1% in the most recent quarter, the Journal reported, although top-line sales were up in double digits.
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