Lazard Middle Market Represented
United Supermarkets of Oklahoma
in its Sale to Homeland
Stores
TRANSACTION DESCRIPTION
Lazard
Middle Market represented United Supermarkets of Oklahoma, Inc. in its
sale to Homeland Stores, an affiliate of Associated Wholesale Grocers,
Inc. Founded in 1916, United Supermarkets owns and operates 26 traditional
grocery stores across Western, Central and Northern
Oklahoma.
TRANSACTION HIGHLIGHTS
United
Supermarkets and Homeland Stores operate within the same region but
compete head-to-head in relatively few instances. The acquisition provided
a unique opportunity for the parties to leverage their respective
strengths and thereby drive revenue and operating synergies through the
combined enterprise. Homeland Stores recognized the value and influence of
the seller’s brand and will continue to operate the acquired stores under
the highly respected United Supermarkets banner.
THE SELLER
United Supermarkets of
Oklahoma, Inc. (www.unitedok.com)
holds a valuable niche in small and mid-sized communities where
convenience, first-name customer service and broad product selection are
primary purchasing factors. Throughout its 91-year history, United has
engendered a deep sense of loyalty by serving customers as their “Home
Town Grocer”. The company adheres closely to its small-market retail
strategy and sees exciting growth opportunities in these often overlooked
markets.
THE BUYER
Homeland Stores (www.homelandstores.com), owner
and operator of 69 grocery stores in Oklahoma, Kansas and Missouri, is an
affiliate of Kansas City-based cooperative Associated Wholesale Grocers,
Inc. (www.awginc.com), the oldest and
second largest member-owned grocery wholesaler in the United States.
Associated Wholesale Grocers supplies more than 1,900 member-stores in 21
states with a wide array of grocery items, produce and fresh meats along
with other merchandise and specialty services for in-store delis and
bakeries.
ABOUT LAZARD MIDDLE MARKET
Lazard Middle Market
(www.lazardmm.com),
a subsidiary of Lazard (NYSE:LAZ), provides advice on mergers and
acquisitions, restructuring, and financings to the middle market. Formed
in 2007 with Lazard's acquisition of Goldsmith Agio Helms, Lazard
Middle Market has approximately 100 professionals in Minneapolis, New
York, Chicago, Los Angeles, and Shanghai.
