Warehouse-style grocer to operate as separate unit of Grupo Comercial Chedraui The private-equity parent of Smart & Final plans to sell the warehouse-style grocery chain to Bodega Latina Corp., a subsidiary of Mexican retailer Grupo Comercial Chedraui. Under the agreement, announced Thursday evening, Bodega Latina would acquire Smart & Final Holdings from funds managed by affiliates of New York-based parent Apollo Global Management in a deal valued at about $620 million, including the assumption of debt. Apollo had acquired Smart & Final in a $1.12 billion leveraged buyout in June 2019. Plans call for Smart & Final to retain its existing operations and management team, led by CEO David Hirz. Currently, Smart & Final operates 254 stores under the Smart & Final Extra! (198 locations) and Smart & Final (56 locations) banners in California, Arizona and Nevada. Smart & Final — marking its 150th anniversary in 2021 — generated U.S. revenue of about $4.1 billion in its fiscal year ended Jan. 3, 2021, with roughly 70% of sales from household customers and 30% from business customers. Another 16 Smart & Final stores in northwestern Mexico are operated through a joint venture.