Business Services Industry
Ethnic-oriented Houston grocery chain is bought by supplier in defensive move.
Knight Ridder/Tribune Business News, August, 2004
By Barry Shlachter, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Aug. 27--Fiesta Mart, a Houston-based grocery chain catering to ethnic shoppers, was purchased by its primary wholesale supplier to keep the 50 stores from falling into the hands of a major supermarket company, which typically self-distribute.
On Thursday, Grocers Supply Co. of Houston described the takeover as a defensive action to retain important distribution business after Fiesta shareholders offered the chain for sale several months ago.
"It was put on the market through a broker, and there were other parties seriously interested," said David Hoffman, senior vice president for sales and marketing at Grocers Supply. He did not disclose the...
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