The CEO is often found personally overseeing El Super stores regularly, and knows what customers of all backgrounds want in terms of meat cuts and seasonings, Flickinger said. This is the latest ownership change for Fiesta Mart over the past decade.
In , Fiesta Mart was acquired by Grocers Supply , a wholesale groceries distributor. In , the grocer was acquired by Acon Investments , a Washington, D. After the deal closes, Bodega will have stores across the southwest U. Houston, with its growing Hispanic population and young families, represents a growth opportunity for Bodega. As more Californians move to Texas seeking lower cost of living, Bodega likely sees a future in Texas, said David Littwitz, a retail broker with Houston-based Littwitz Investments.
They see Houston as a market to grow and make money. Most Popular. A record 4. Now, in a deal that could reinvigorate the aging retail icon, an out-of-state investment firm has purchased the chain with the announced intention of "building value. Little is known about the new owner's specific plans for the stores or what is ahead for the some 8, Fiesta Mart employees.
The buyer, Washington, D. But in a statement, founding partner Ken Brotman said the company "looked forward to building value in a business that is very well positioned for continued growth. The company purchased the stores from Houston's Levit family, which less than six months ago sold its wholesale business, Grocers Supply, to an East Coast supplier.
He said the store's new owner, which has had success with grocery investments in Latin America, is well positioned to increase sales in the fast-growing Texas markets, even with competition from the region's biggest grocers: H-E-B, Walmart and Kroger.
Terms of the deal were not disclosed. For years, Fiesta Mart was the only game in town when it came to Hispanic markets, said Jason Baker, a principal at Houston retail brokerage firm Baker Katz. That's changed over the last decade as grocery operators have entered or expanded in the Houston market targeting the growing population of Spanish speakers.
Houston retail expert Ed Wulfe said Fiesta has a special niche, but "the challenge of the independent grocer is great. They are competing with all the big guys. Last year, the company closed a store in Sugar Land it had open less than one year. The location had offerings such as in-store yogurt and coffee shops to appeal to a wider customer base. While the Levits had owned Grocers Supply for more than 90 years, the family bought Fiesta in Bonham, who had lived and worked in the grocery business in several countries in Latin America, saw a need in the United States for supermarkets catering to Hispanics nostalgic for items from their home countries.
He partnered with Mendenhall and opened a store in the Near Northside. By , Fiesta had opened eight stores, including one spanning , square feet on Bellaire and Hillcroft. That store and the company's others drew customers from many backgrounds and the company began offering more international products.
Today, the company has 34 stores in the Houston area, including one Fiesta Fresh Market; two in Austin; and 24 in the Dallas-Fort Worth area, including two Carnival stores. Mike Nichols, former chief operating officer of Grocers Supply and now a consultant to the Levit family shareholders, said the sale of Fiesta was part of the Levit's strategy to sell its operating businesses and move into real estate.
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