Houston-based Fiesta Mart on Thursday announced a deal to buy all 11 Minyard Food Stores from owner RLS Supermarkets in the Dallas area.
Terms were not disclosed.
The acquisition reunites Minyard stores with former RLS CEO Michael Byers, who was named Fiesta Mart's CEO a year ago. Minyard under a previous ownership in 2008 sold its Hispanic-focused Carnival banner to Fiesta Mart.
With the Minyard Food acquisition, Fiesta will now operate 70 stores across Texas. Dallas-based RLS will continue to operate eight Sun Fresh stores it operates in the Dallas area.
Fiesta said it intended to transition the Minyard stores to the Fiesta banner in coming months.
“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,” Byars said in a statement. “Our entire Fiesta team has worked together to move the brand forward organically, and now through acquisition we continue on our growth plan.”
Byars worked for Minyard from January 2005 through January 2009, ultimately serving as CEO and president. He joined Fiesta in 2015 shortly after that chain was acquired by the private equity investor Acon.
“Acon is pleased to add Minyard Food Stores to the Fiesta team as part of our strategic vision to grow the Fiesta brand,” remarked Andre Bhatia, a managing partner for 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 current supplier AWG, along with Fiesta’s supplier, Grocery Supply Co. The Minyard stores will be transitioning to Fiesta over the next several months.
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