Smart & Final Files IPO

Smart & Final Stores, the Commerce, Calif.-based warehouse-style grocery retailer, filed with the SEC on Friday for an initial public offering (IPO) of its common stock.

The company is seeking $100 million through the filing, although Renaissance Capital said that figure is likely a preliminary "placeholder," and that Smart & Final could raise up to $300 million following the IPO's finalization. The grocer plans to use proceeds to repay debt and finance its future growth plans, according to reports.

The filing named Credit Suisse, Morgan Stanley, Deutsche Bank and Barclays as joint underwriters.

Los Angeles-based Private equity firm Ares Management purchased a majority stake in the company for $975 million in late 2012 from Apollo Global Management, based in New York.

Smart & Final operates 247 locations in the western United States under the Smart & Final, Extra! and Cash and Carry banners, and posted net sales of $3.3 billion for the 12 months ended March 31, 2014.

At press time, the company confirmed its S-1 registration statement, but had no further comment.