Investment Firm Acquires Fiesta Mart

Hispanic grocery chain Fiesta Mart has been acquired from its family ownership by Acon Investments. Terms of the deal were not disclosed.

Former Bi-Lo President Michael Byars will helm the newly acquired Fiesta Market as president and CEO. He replaces former CEO Louis Katopodis, who is retiring.

Prior to serving with Jacksonville, Fla.-based Bi-Lo, Byars was president/CEO of Minyard Food Stores Inc., based in Carrollton, Texas.

"I sincerely appreciate the trust and confidence placed in me by Acon," Byars said of his appointment. "I look forward to working with the company's employees to further strengthen Fiesta's position and growth in the markets it serves."

C&S Wholesale Grocers, which purchased Fiesta supplier Grocer's Supply in November of last year, will continue to supply Fiesta, the companies said.

Ken Brotman, founding partner of Acon, said, "Fiesta has established itself as a leading international and Hispanic grocery operator in the United States, and we look forward to building value in a business that is very well positioned for continued growth."

Texas-based Fiesta Mart operates 60 stores in the Houston, Austin and Dallas-Fort Worth markets.