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Fresco Retail Group Plans Expansion After Securing Financing from Amerant Bank

The loan will help the grocery chain acquire Fresco y Más.

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.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.