Smart & Final acquired by Apollo affiliate for $22 per share in cash

By Lisa Kerner

Charlotte, N.C., May 31 - Smart & Final Inc. completed the merger of the company with an affiliate of Apollo Management, LP.

Under the Feb. 20 merger agreement, Smart & Final shareholders will receive $22 in cash without interest in a transaction valued at about $812.9 million.

Smart & Final's common stock ceased trading on the New York Stock Exchange at market close on May 31 and will be delisted.

In addition, Smart & Final announced the completion of Apollo's acquisition of a subsidiary of Paris-based Casino Guichard-Perrachon, SA. Including shares held by the subsidiary, Groupe Casino owned approximately 55% of Smart & Final's common stock, a company news release stated.

City of Commerce, Calif.-based Smart & Final operates 254 non-membership warehouse stores for food and food service supplies.

Apollo is a private investment partnership.

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