Apollo Global Management (APO) Eyeing $1.5B on Heritage Grocers Group Divestment

Core Insights - Apollo Global Management is divesting its Hispanic grocery chain Heritage Grocers Group for approximately $1.5 billion, amid concerns that immigration raids may impact consumer demand in Latino communities across the US [1][2]. Financial Performance - Heritage Grocers Group reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of $150 million and generated over $2 billion in revenue [3]. Market Context - The divestment is taking place as the grocery chain faces pressure from weak consumer spending, leading to a downgrade in its credit rating by rating agencies [3]. Apollo has engaged investment bank UBS to maximize the value from the sale [2].