Apollo’s grocery-store double dip looks digestible tombuerkle
Smart & Final Stores announced on April 16 that it had agreed to be acquired by Apollo Global Management for $6.50 a share in cash, or $500 million. With debt, the deal values the California-based food retailer at $1.1 billion.
Apollo first acquired Smart & Final from the U.S. subsidiary of France’s Casino in 2007 at an enterprise value of $813 million. It sold the company to Ares Management in 2012 in a $975 million deal.
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