Grocery, Pharmacy & Restaurants

ADVISING THE FAMILIES WHO FEED AMERICA’S FAMILIES™

The Solomon Partners Grocery, Pharmacy & Restaurants team provides investment banking advisory services to public and private clients across various grocery sectors, including traditional and specialty grocery stores, pharmacies, club stores, discount grocers, convenience stores, wholesalers and restaurants.

The practice is led by Scott Moses, whose experience includes some of the largest and most significant grocery and pharmacy M&A transactions in the past two decades, with a combined transaction value of over $50 billion. The team also features the extraordinary talents of Director Joshua Heft.

Together over the past few years, their extensive work in the Grocery, Pharmacy & Restaurants sector has included working with clients such as:

Albertsons (on its pending merger with Kroger)
Kroger (on its $800mm acquisition of Roundy’s)
Fresh Encounter (on its pending sale to SpartanNash)
KKR (on its sale of Cardenas Markets to Heritage Grocers Group / Apollo)
El Rancho (on its sale to Heritage Grocers Group / Apollo and its sale of a growth investment by Albertsons)
Sprouts Farmers Market (on its merger with Henry’s Farmers Market / Apollo)
Sunflower Farmers Market (on its merger with Sprouts Farmers Market / Apollo)
New Seasons Market (on its sale to Emart / Good Food Holdings)
Mercatus (on its merger with Stor.ai)
Rite Aid (on the sale of Michigan and Ohio Assets to Walgreens)
Boxed.com (on its sale of Spresso to BlackRock and its merger with Seven Oaks Acquisition Corp.)
Imperfect Foods (on its sale to Misfits Market)
Baked by Melissa (on its sale of a growth investment by Tiff’s Treats)
Price Chopper / Market 32 (on its merger with Tops Markets)
Save Mart (on its sales to Oak Street Real Estate Capital and Kingswood Capital Management)
United Supermarkets (on its sale to Albertsons)
Save A Lot (on its ~$1bn recapitalization and refinancing)
Southeastern Grocers (on its sale of Bi-Lo stores to Ahold Delhaize and Alex Lee; its sale of Bi-Lo Rx assets to CVS Health and Walgreens; and its sale of Winn-Dixie Rx assets to CVS Health)
Fairway Markets (on its sale of stores to Village Super Market, Amazon, Bogopa and Key Food)
Kings Balducci’s (on its sale to Albertsons)
Lucky’s Market (on its sale of stores to various acquirers including Aldi, Publix, Southeastern Grocers, Dollar General and the founders, Bo and Trish Sharon, et. al., as well as the original sale of a meaningful equity stake to Kroger)
Fred’s (on its sale of Rx assets to Walgreens and CVS)
Best Market (on its sale to Lidl US); Martin’s Super Markets (on its sale to SpartanNash)
Supervalu (on its sale of Shop ‘N Save assets to Schnuck Markets)
Apollo (on its $305 million acquisition of Qdoba)
Thai Union (on its acquisition of Golden Gate Capital’s equity stake in Red Lobster)
Central Grocers (on its sale of Strack & Van Til to Indiana Grocery Group and its sale of its DC to Supervalu)
Marsh Supermarkets (on its sales to Kroger and Fresh Encounter); Mi Pueblo (on its sale to KKR / Cardenas)
Haggen Food & Pharmacy (on various transaction including the sale of its core business to Albertsons; the sale of its non-core stores to Smart & Final, Albertsons, Gelson’s, Sprouts, Stater Bros., 99 Ranch and Bristol Farms, et. al.; its previous operating company sale to Comvest Partners, its family-owned real estate sale to Merlone Geier and Rx assets sale to Walgreens)
Pro’s Ranch Markets (on its sale of its California Region stores to Vallarta)

Scott Moses also worked on Cerberus’ acquisition of Albertson’s “non-core” stores (as part of a $17.4 billion acquisition consortium); Kroger’s $800mm acquisition of Roundy’s; Sprouts Farmers Market’s merger with Henry’s Farmers Market (owned by Apollo); Sunflower Farmers Market’s merger with Sprouts Farmers Market; United Supermarkets’ sale to Albertsons; Haggen’s sale to Albertsons; Ahold’s $7.1 billion sale of U.S. Foodservice to KKR and CD&R; Jean Coutu’s $3.4 billion sale of Eckerd Drugs and Brooks Pharmacy to Rite Aid; Caremark’s $22 billion merger with CVS; and Seven & I’s $1.3 billion take-private of 7-Eleven; GameStop’s $1.4 billion acquisition of Electronics Boutique and GameStop’s $700 million spin-off from Barnes & Noble.

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