Grocery, Pharmacy & Restaurants
WHAT WE DO
Advising the Families Who Feed America’s Families™
The Solomon Partners Grocery, Pharmacy & Restaurants team provides investment banking advisory services to public and private clients across our coverage sectors, including:
- Traditional Grocery
- Specialty/Ethnic Grocery
- Club Grocery
- Discount Grocery
- Drug Stores
- Convenience Stores
- Grocery Wholesale
- Specialty Food Distribution
- Foodservice Distribution
- Restaurants
- Grocery Real Estate
- Food Tech
Our Grocery, Pharmacy & Restaurants practice provides M&A, financing, and restructuring advisory services to a diverse set of clients, including some of the largest operators in our industries, private equity firms, and real estate investment companies. The team also has extensive experience advising family-owned businesses and high-growth companies.
The practice is led by Scott Moses, whose experience includes some of the largest and most significant grocery and pharmacy M&A transactions in the past two decades, with a combined transaction value over $50 billion.
Over the past few years, Solomon’s extensive work in the Grocery, Pharmacy & Restaurants sector has included working with clients such as:
- C&S Wholesale Grocers (on its pending $1.77 billion acquisition of SpartanNash)
- Roche Bros. (on its sale to Bozzuto’s owner)
- Fresh Encounter (on its sale to SpartanNash)
- Albertsons (on its terminated merger with Kroger)
- Kroger (on its $800mm acquisition of Roundy’s)
- KKR (on its sale of Cardenas Markets to Heritage Grocers Group / Apollo)
- El Rancho (on its sale to Heritage Grocers Group / Apollo and its sale of a growth investment by Albertsons)
- Sprouts Farmers Market (on its merger with Henry’s Farmers Market / Apollo)
- Sunflower Farmers Market (on its merger with Sprouts Farmers Market / Apollo)
- New Seasons Market (on its sale to Emart / Good Food Holdings)
- Rite Aid Lenders (on its sale of Michigan and Ohio Assets to Walgreens)
- FreshDirect (on its split-off from Getir)
- Mercatus (on its merger with Stor.ai)
- Boxed.com (on its sale of Spresso to BlackRock and its merger with Seven Oaks Acquisition Corp.)
- Imperfect Foods (on its sale to Misfits Market)
- Baked By Melissa (on its sale of a growth investment by Tiff’s Treats)
- Price Chopper / Market 32 (merger with Tops Markets)
- Save Mart (on its sales to Oak Street Real Estate Capital and Kingswood Capital Management)
- United Supermarkets (on its sale to Albertsons)
- Save A Lot (on its ~$1bn recapitalization and relicensing sales)
- Southeastern Grocers (on its sale of Bi-Lo stores to Ahold Delhaize and Alex Lee; its sale of Bi-Lo Rx assets to CVS Health and Walgreens; and its sale of Winn-Dixie Rx assets to CVS Health)
- Fairway Markets (on its sale of stores to Village Super Market, Amazon, Bogopa and Key Food)
- Kings Balducci’s (on its sale to Albertsons)
- Lucky’s Market (on its sale of stores to various acquirers including Aldi, Publix, Southeastern Grocers, Dollar General and the founders, Bo and Trish Sharon, et. al., as well as the original sale of a meaningful equity stake to Kroger)
- OpCapita and Centerbridge (on their investment in Soul Foods Group)
- Jason’s Deli (on its refinancing of existing credit facilities)
- Pharmaca Integrative (on its sale to Medly Pharmacy)
- Fred’s (on its sale of Rx assets to Walgreens and CVS)
- Best Market (on its sale to Lidl US)
- Martin’s Super Markets (on its sale to SpartanNash)
- Supervalu (on its sale of Shop ‘N Save assets to Schnuck Markets)
- Apollo (on its $305mm acquisition of Qdoba)
- Central Grocers (on its sale of Strack & Van Til to Indiana Grocery Group and its sale of its DC to Supervalu)
- Marsh Supermarkets (on its sales to Kroger and Fresh Encounter)
- Mi Pueblo (on its sale to KKR / Cardenas)
- Haggen Food & Pharmacy (on various transactions including the sale of its core business to Albertsons; the sale of its non-core stores to Smart & Final, Albertsons, Gelson’s, Sprouts, Stater Bros., 99 Ranch and Bristol Farms, et. al.; its previous operating company sale to Comvest Partners, its family-owned real estate sale to Merlone Geier and Rx assets sale to Walgreens)
- Pro’s Ranch Markets (on its sale of its California Region stores to Vallarta)
- Weis Markets (on its sale of SuperPetz to Petco)
Grocery, Pharmacy & Restaurants Transactions
Serving as financial advisor to C&S Wholesale Grocers on its pending acquisition of SpartanNash
June 2025
Served as financial advisor to Roche Bros. Supermarkets on its sale to Bozzuto’s owner
December 2024
Served as financial advisor to Fresh Encounter Inc. on its sale to SpartanNash
December 2024
Served as financial advisor to FreshDirect on its split-off from Getir
November 2024
Served as financial advisor to Rite Aid’s Lenders on the sale of assets to Walgreens as part of its restructuring
September 2024
Served as financial advisor to Mercatus Technologies on its merger with Stor.ai
December 2023
Served as financial advisor to El Rancho Supermercado on its sale to Heritage Grocers Group, a portfolio company of Apollo
June 2023
Served as financial advisor to Baked by Melissa on its strategic partnership with Tiff’s Treats
December 2022
Served as exclusive financial advisor to Imperfect Foods on its sale to Misfits Market
November 2022
Served as lead financial advisor to KKR and Cardenas Markets on its sale to Apollo
August 2022
Served as financial advisor to OpCapita, Centerbridge and Metric Capital Partners on their investment in Soul Foods Group, with a concurrent delayed draw term loan financing
July 2022
Served as financial advisor to The Save Mart Companies on its sale to Kingswood Capital Management
March 2022
Served as financial advisor to Boxed on its merger with Seven Oaks Acquisition Corp.
December 2021
Served as financial advisor to Save A Lot on the sale of 33 stores to Ascend Grocery as part of its re-licensing program
December 2021
Served as financial advisor to Price Chopper / Market 32 on its merger with Tops Markets
November 2021
Served as exclusive financial advisor to Jason’s Deli on its refinancing of existing credit facilities
June 2021
Served as strategic and financial advisor to Pharmaca Integrative on its sale to Medly Pharmacy
June 2021
Served as financial advisor to KB Holdings, Inc. on its sale to Albertsons
January 2021
Served as co-financial advisor to Red Lobster on its refinancing of existing credit facilities
January 2021
Served as financial advisor to Southeastern Grocers on its sale of 25 Bi-Lo stores to Alex Lee Inc.
December 2020
Advised Save-A-Lot on its sale of 51 stores to Fresh Encounter as part of an ongoing recapitalization and relicensing sales program
December 2020
Serving as financial advisor to Thai Union Group on its acquisition of Golden Gate Capital’s remaining equity stake in Red Lobster Seafood Co
August 2020
Served as financial advisor to Fairway Market on the sale of select stores and distribution center to Village Super Markets, Key Foods, Amazon and Bogopa
July 2020
Serving as financial advisor to Southeastern Grocers on its sale of 62 stores and a distribution center to Ahold Delhaize and served as financial advisor on the sale of selected pharmacy assets to Walgreens and CVS
July 2020
Served as financial advisor to Lucky’s Markets on the sale of select stores to ALDI, Publix, Southeastern Grocers, Schnucks, Hitchcocks and Seabra Foods
May 2020
Served as financial advisor to Save A Lot on its successful recapitalization and refinancing
April 2020
Served as financial advisor to New Seasons Market / New Leaf Community Markets on its sale to Good Food Holdings
January 2020
Served as financial advisor to Fred’s on the sale of its pharmacy assets to CVS.
August 2019
Served as financial advisor to Martin’s on its sale to SpartanNash
December 2018
Served as financial advisor to Best Market on its sale to Lidl US
December 2018
Served as financial advisor to Fred’s on the sale of its pharmacy assets to Walgreens
December 2018
Advised SUPERVALU on sale of Shop ‘n Save assets to Schnuck Markets
October 2018
Advised Apollo Global Management on the acquisition of Qdoba Restaurant Corporation
March 2018
Served as exclusive financial advisor to El Rancho Supermercado in connection with a strategic growth investment from Albertsons
November 2017
Advised Central Grocers on the sale the sale of its distribution center to Supervalu
August 2017
Served as financial advisor to Strack & Van Til on the sale of retail assets to Indiana Grocery Group
August 2017
Advised Marsh Supermarkets on its sales to Kroger and Fresh Encounters
July 2017
Advised Mi Pueblo on its sale to Cardenas Markets / KKR
December 2016
Advised Southeastern Grocers on its sale of pharmacy prescription files to CVS Health
November 2016
Served as financial advisor to Haggen Food & Pharmacy on the sale of its core business to Albertsons
June 2016
Grocery, Pharmacy & Restaurants Specialists
Grocery, Pharmacy & Restaurants Insights
Solomon Partners’ Scott Moses Releases New Book “A ‘Grocery’ Christmas Carol: The Ghost of Supermarkets Future”
NEW YORK—Feb. 6, 2025—Scott Moses, Head of Grocery, Pharmacy & Restaurants at Solomon Partners, a leading financial advisory firm, announced…
Scott Moses Shares Five Things You Might Not Know About The Kroger-Albertsons FTC Trial
Scott Moses, Head of Grocery, Pharmacy & Restaurants, shares "Five Things You Might Not Know About the Kroger-Albertsons FTC Trial”…
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