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 renowned executives Justin Dye and Edna Morris (both Senior Advisors), Managing Directors Gregory Grambling and Syed Husain; Vice Presidents Gaurav Ghosh and Joshua Heft.
Together over the past few years, their extensive work in the Grocery & Restaurants sector has included working with clients such as:
- Kroger (on its $800mm acquisition of Roundy’s)
- Boxed.com (on its pending merger with Seven Oaks Acquisition Corp.)
- Sprouts Farmers Market (on its merger with Henry’s Farmers Market, then owned by Apollo)
- Sunflower Farmers Market (on its merger with Sprouts Farmers Market)
- New Seasons Market (on its sale to Emart / Good Food Holdings)
- Save A Lot (on its ~$1bn recapitalization and refinancing)
- El Rancho (on its sale of a growth investment by Albertsons)
- Mi Pueblo (on its sale to KKR/Cardenas)
- United Supermarkets (on its sale to Albertsons)
- 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)
- Kings Balducci’s (on its sale to Albertsons)
- Fairway Markets (on its sale of stores to Village Super Market, Amazon, Bogopa and Key Food)
- 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)
- Best Market (on its sale to Lidl US)
- Martin’s Super Markets (on its sale to SpartanNash)
- Thai Union (on its acquisition of Golden Gate Capital’s equity stake in Red Lobster)
- Apollo (on its $305 million acquisition of Qdoba)
- Supervalu (on its sale of Shop ‘N Save assets to Schnuck Markets)
- Fred’s (on its sale of Rx assets to Walgreens and CVS)
- 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)
- Haggen Food & Pharmacy (on 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.; and its previous operating company sale to Comvest Partners, family-owned real estate sale to Merlone Geier and Rx assets sale to Walgreens)
Mr. 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.
Serving as strategic and financial advisor to Pharmaca Integrative on its pending sale to Medly Pharmacy
Served as exclusive financial advisor to Jason’s Deli on its refinancing of existing credit facilities
Serving as financial advisor to Boxed on its pending merger with Seven Oaks Acquisition Corp.
Serving as financial advisor to Price Chopper / Market 32 on its merger with Tops Markets
Served as co-financial advisor to Red Lobster on its refinancing of existing credit facilities
Served as financial advisor to KB Holdings, Inc. on its sale to Albertsons
Advised Save-A-Lot on its sale of 51 stores to Fresh Encounter as part of an ongoing recapitalization and relicensing sales program
Serving as financial advisor to Southeastern Grocers on its sale of 25 Bi-Lo stores to Alex Lee Inc.
Serving as financial advisor to Thai Union Group on its acquisition of Golden Gate Capital’s remaining equity stake in Red Lobster Seafood Co
Served as financial advisor to Fairway Market on the sale of select stores and distribution center to Village Super Markets, Key Foods, Amazon and Bogopa
Serving as financial advisor to Southeastern Grocers on its sale of 62 stores and a distribution center to Ahold Delhaize and served as financial advisor on the sale of selected pharmacy assets to Walgreens and CVS
Served as financial advisor to Lucky’s Markets on the sale of select stores to ALDI, Publix, Southeastern Grocers, Schnucks, Hitchcocks and Seabra Foods
Served as financial advisor to Save A Lot on its successful recapitalization and refinancing
Served as financial advisor to New Seasons Market / New Leaf Community Markets on its sale to Good Food Holdings
Served as financial advisor to Fred’s on the sale of its pharmacy assets to CVS.
Served as financial advisor to Best Market on its sale to Lidl US
Served as financial advisor to Martin’s on its sale to SpartanNash
Served as financial advisor to Fred’s on the sale of its pharmacy assets to Walgreens
Advised SUPERVALU on sale of Shop ‘n Save assets to Schnuck Markets
Advised Apollo Global Management on the acquisition of Qdoba Restaurant Corporation
Served as exclusive financial advisor to El Rancho Supermercado in connection with a strategic growth investment from Albertsons
Served as financial advisor to Strack & Van Til on the sale of retail assets to Indiana Grocery Group
Advised Central Grocers on the sale the sale of its distribution center to Supervalu
Advised Marsh Supermarkets on its sales to Kroger and Fresh Encounters
GROCERY & RESTAURANTS SECTOR COVERAGE
Our senior team experience includes some of the largest Grocery, Drug Retail & Restaurant M&A transactions in the past two decades, with a combined transaction value of over $50 billion.
We advise clients in all Grocery, Drug Retail & Restaurant sectors, including:
- Traditional Grocery Stores
- Specialty Grocery Stores
- Drug Stores
- Club Stores
- Convenience Stores
- Foodservice Distribution
- Grocery Wholesalers
NEWS & INSIGHTS
Solomon Partners Serves as Financial Advisor to Boxed in its Pending Merger with Seven Oaks Acquisition Corp.
Solomon Partners’ Edna Morris and Ned Lyerly, CEO of CKE Restaurants, Discuss Innovation in the Restaurant Sector
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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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