Fiesta Mart acquires Minyard Food Stores
With the Minyard Food Stores acquisition, Fiesta will now operate 70 stores across Texas.
Fiesta Mart, LLC, Houston, Texas, announced plans to acquire 11 Minyard Food Stores in the Dallas-Fort Worth Metroplex from RLS Supermarkets, LLC, Carrollton, Texas. Fiesta is a specialty grocery retailer known for its international offerings. With the Minyard Food Stores acquisition, Fiesta will now operate 70 stores across Texas.
"We are excited to welcome Minyard Food Stores to the Fiesta family. This action reinforces the strategic growth plan we put forth early last year," says Michael Byars, chief executive officer of Fiesta. "Our entire Fiesta team has worked together to move the brand forward organically, and now through acquisition, we continue on our growth plan."
In early 2015, Fiesta was purchased by ACON, a Washington, D.C.-based private equity investment firm.
"ACON is pleased to add Minyard Food Stores to the Fiesta team as part of our strategic vision to grow the Fiesta brand," says Andre Bhatia, a managing partner of ACON. "Our prior supermarket investing experience and success will further strengthen Fiesta's position in the markets we serve."
The newly acquired Minyard store locations will continue to be supplied by AWG, along with Fiesta's supplier, Grocery Supply. The Minyard stores will be transitioning to Fiesta over the next several months. Additional terms of the deal were not disclosed.