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Nogales Investors and Breco Holdings acquire Numero Uno Markets

Nogales Investors, a Los Angeles-based private equity firm, and Breco Holdings, an investment firm out of Houston, have completed the purchase of Numero Uno Markets.

Nogales Investors, a Los Angeles-based private equity firm, and Breco Holdings, an investment firm out of Houston, have completed the purchase of Numero Uno Markets.

This represents the first transaction for the new joint venture between the two companies, created to purchase the Numero Uno asset and managed future grocery store acquisitions.

Nogales and Breco now own all eight of the grocery chain’s properties, which are located primarily in densely-populated urban centers throughout Los Angeles. The first store was opened 27 years ago, with a goal to provide high-quality food in underserved regions. Numero Uno store revenues generally exceed USD120m, with products mainly targeted to the Hispanic consumers.

The Numero Uno brand captured the attention of the Nogales Investors and Breco Holdings because of its strong, positive reputation among Hispanic consumers in the Los Angeles area. The Hispanic market segment within Los Angeles is growing rapidly and research shows that Hispanic consumers spend the largest percentage of household income on groceries than any other demographic. As a result, the Nogales – Breco joint venture will continue to make grocery store acquisitions in the greater Los Angeles area.

‘Numero Uno has a strong presence in Los Angeles and is well positioned to capitalize on the growth in the Southern California Hispanic consumer market,’ says Luis Nogales, managing partner of Nogales Investors.

Alfredo Brener, chief executive of Breco Holdings and former owner of the Boys and Viva Markets in Los Angeles, adds: ‘We are very excited to return to the Los Angeles market and provide outstanding service to our customers and the communities that we serve.’

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