Smart & Final Closes Sale to Apollo Management

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Smart & Final Closes Sale to Apollo Management

LOS ANGELES -- Smart & Final Inc. last week completed its merger with an affiliate of private investment company Apollo Management, L.P.

On February 20, 2007, the affiliate of Apollo Management, L.P. entered into an agreement acquire Smart & Final for approximately $812.9 million.

Under the terms of the merger agreement, Smart & Final shareholders are entitled to receive $22 in cash for each share of Smart & Final's common stock, which, as a result of this transaction, ceased trading on the New York Stock Exchange at market close May 31 and was de-listed.

Smart & Final operates 255 non-membership warehouse stores for food and foodservice supplies in California, Oregon, Washington, Arizona, Nevada, Idaho, and northern Mexico.

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