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)
- Fresh Encounter (on its sale to SpartanNash)
- Kroger (on its $800mm acquisition of Roundy’s)
- 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)
- Boxed.com (on its sale of Spresso to BlackRock and its merger with Seven Oaks Acquisition Corp.)
- Rite Aid Lenders (on its sale of Michigan and Ohio Assets to Walgreens)
- 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 (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 relicensing sales)
- 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 $305mm acquisition of Qdoba)
- 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 transactions 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)
- Weis Markets (on its sale of SuperPetz to Petco)
Transactions
Served as financial advisor to Roche Bros. Supermarkets on its sale to Bozzuto’s owner
Served as financial advisor to Fresh Encounter Inc. on its sale to SpartanNash
Served as financial advisor to Rite Aid’s Lenders on the sale of assets to Walgreens as part of its restructuring
Served as financial advisor to Mercatus Technologies on its merger with Stor.ai
Served as financial advisor to El Rancho Supermercado on its sale to Heritage Grocers Group, a portfolio company of Apollo
Served as financial advisor to Baked by Melissa on its strategic partnership with Tiff’s Treats
GROCERY & RESTAURANTS SECTOR COVERAGE
Our senior team experience includes some of the largest Grocery, Pharmacy & Restaurant M&A transactions in the past two decades, with a combined transaction value of over $50 billion.
We advise clients in all Grocery, Pharmacy & Restaurant sectors, including:
- Traditional Grocery Stores
- Specialty Grocery Stores
- Drug Stores
- Club Stores
- Convenience Stores
- Foodservice Distribution
- Grocery Wholesalers
- Restaurants
NEWS & INSIGHTS
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Today, Solomon Partners is an independently-run affiliate of Natixis, part of Groupe BPCE, a top ten European and top 20 global bank. Our partnership provides our clients with global coverage across the Americas, EMEA and APAC.
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