Apollo Global looks to sell Hispanic food chain Heritage Grocers Group - report

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Apollo Global Management (NYSE:APO [https://seekingalpha.com/symbol/APO]) is exploring selling its Hispanic grocery chain, Heritage Grocers Group, in a deal that could fetch some $1.5B, according to a media report published Wednesday.

The private equity firm is working on the sale process with investment bank UBS Group (UBS [https://seekingalpha.com/symbol/UBS]), Reuters reported, citing two people familiar with the matter.

Heritage's portfolio includes El Rancho Supermercado, Cardenas Markets and Tony's Fresh Market. Apollo (NYSE:APO [https://seekingalpha.com/symbol/APO]) merged Tony's and Cardenas after acquiring them in 2022, then added El Rancho the following year.

The news [https://www.reuters.com/world/apollo-explores-sale-hispanic-food-retailer-heritage-grocers-group-sources-say-2025-10-22/] comes nearly a year after S&P Global Ratings downwardly revised [https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3303474] its rating outlook on Heritage to negative from stable, pointing to materially lower cash flow and credit metrics in 2024, "due to a competitive promotional environment and pressure on consumers in its low-income markets."

Apollo, UBS and Heritage did not immediately respond to Seeking Alpha's request for comment.

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