A $120 million loan from Amerant Bank will facilitate the acquisition of Fresco y Más from Southeastern Grocers Inc. (SEG) by Fresco Retail Group, LLC. The investment group is strategically focused on food and grocery, and the transaction includes the entire Fresco y Más portfolio. Fresco y Más is a Florida-based grocery chain founded in 2016 in Hialeah. The company offers food and grocery goods at compelling values and has 34 locations across South, Central, and Southwest Florida, including 28 stores and six liquor stores.
“We have been collaborating closely with the Fresco Retail Group, and today, we are excited to announce the successful closing of this deal,” says Matthew Bruno, EVP, Miami-Dade Market President, Amerant Bank. “Fresco y Más boasts an excellent market footprint in South Florida, and we look forward to supporting their growth as part of a strong long-term relationship together.”
The legal representation of Amerant Bank in the recent transaction was led by Javier A. Alvarez, who serves as the Co-Managing Partner at TA PLLC. Erika L. Porrino and Steven Ross assisted Alvarez in this matter. On the other hand, Ezra Katz, the Founder and CEO of Aztec Group, played a crucial advisory role in facilitating the deal on behalf of Fresco Retail Group. It is worth noting that in August 2023, a definitive agreement was reached by Southeastern Grocers to divest its Fresco y Más operations to Fresco Retail Group, LLC.
Fresco Retail Group, LLC has expressed its commitment to preserving the present operations of all the supermarkets and liquor stores under the Fresco y Más banner.
