C&S acquires QFC, Mariano’s and Carrs brands
C&S will also add five private labels to its current brand portfolio.
C&S Wholesale Grocers LLC will acquire 413 stores, eight distribution centers and two offices, as well as the QFC, Mariano’s and Carrs brand names.
The assets have become available due to The Kroger Co. and Albertsons Cos. Inc. merger. C&S will also add five private labels to its current brand portfolio. 1918 Winter Street Partners, an affiliate of C&S Wholesale Grocers, will operate these stores.
“With more than 104 years in the rapidly changing grocery industry, the foundation of C&S’s success has been our ability to innovate. Our fast-paced industry challenges us to continue to think differently about our business model and how we meet the needs of our consumers, employees and communities — now and for generations to come,” said Rick Cohen, Executive Chairman, C&S Wholesale Grocers.
The agreement is set to close in early 2024, subject to regulatory clearance and customary closing conditions. C&S will continue to recognize the union workforce and maintain all collective bargaining agreements, and is committed to retaining frontline employees and further investing for growth.
“This is another exciting opportunity for C&S to expand into the retail market, which is an important component of our long-term growth. We have a strong foundation of retail experience with our Piggly Wiggly franchise and corporate-owned stores in the Midwest and Carolinas and the reopening of our iconic Grand Union — totaling more than 160 retail locations — all of which demonstrate C&S’s ability to deliver solid retail performance,” said Eric Winn, chief operating officer and designated CEO, C&S Wholesale Grocers. “This will also further enhance C&S’s ability to serve our customers as we will be in a unique position as a leading wholesale supplier and retailer to help grow their business and continue our legacy of braggingly happy customers.”
“C&S is invested in the communities where we live and work. Our retail locations are a critical resource not only for necessities but also as an integral part of the local area they serve. We look forward to welcoming our new employees into the C&S family of companies and leveraging C&S’s strong heritage of selection, value and customer service to continue our mission of keeping our communities fed,” said Mark McGowan, President, Retail, C&S Wholesale Grocers.
Centerview Partners served as exclusive financial advisor and Sullivan & Cromwell LLP as legal advisor to C&S Wholesale Grocers.
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