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Apollo considers sale of Hispanic grocer Heritage Grocers Group
Yahoo Financeยท 2025-10-23 14:03
Core Insights - Apollo Global Management is considering the sale of its Hispanic grocery chain, Heritage Grocers Group, due to declining consumer demand among its core Hispanic customers influenced by concerns over mass deportations and ICE raids [1][2] Financial Overview - The potential sale could yield $1.5 billion for Apollo, with Heritage Grocers generating $150 million in EBITDA and over $2 billion in annual revenue [2] Operational Details - Heritage Grocers operates several Hispanic-focused grocery banners, including El Rancho Supermercado, Cardenas Markets, and Tony's Fresh Market, with a total of 115 stores across multiple states [3] Investment Background - Apollo has previously invested in various grocery sector companies, including The Fresh Market, Sprouts Farmers Market, Smart & Final, and Albertsons [4]