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Chedraui history
Chedraui company history timeline
Originally the business was called the Port of Beirut, clearly showing its origin, but for 1927 would adopt the House Chedraui: the only one of confidence.
Chedraui was founded in 1927 in Xalapa, Veracruz by Lebanese immigrant Lázaro Chedraui Chaya and his wife Ana Caram.
By 1961, when the business took the name of Almacenes Chedraui, there were 80 people working under the direction of the founders’ son Antonio Chedraui Caram.
The year 1970 marked a basic change in the business, as Chedraui opened its first supermarket, Super Chedraui, in Xalapa.
The founders of the chain were Lebanese immigrants to Mexico. It was the new billionaire's father, Antonio Chedraui Charam, who began to expand the business, building the first multi-department store in 1970.
In 1971 it opened the first supermarket in Xalapa, Veracruz.
By 1985, the business had expanded to six stores.
Grupo Comercial Chedraui, the family’s holding company, was incorporated in 1987.
Then chain continued to grow, and in 1995 invested in El Súper, a chain of hypermarkets in Southern California that caters to Mexican-Americans.
By 1997 Grupo Comercial Chedraui was operating 33 Tiendas Chedraui stores, and seven more were opened during the year.
However, it committed itself fully to the self-service principle in retail operations by selling the Las Galas stores in 1997 to El Puerto de Liverpool S.A., Mexico’s leading department store chain, for $35.5 million.
The California operations began in 1997, later expanded to Nevada, Arizona, New Mexico and Texas.
Grupo Comercial Chedraui was planning to make an initial public offering of about 15 percent of its shares on the Mexican stock exchange in order to add to the 48 Tiendas Chedraui in operation in 1999.
In contrast, in 2002 the holding company opened a convenience store chain called Supercito, establishing units in Xalapa and Veracruz.
Tiendas Chedraui had 61 units with $1.3 billion in annual sales in 2004, when the French retail chain Carrefour S.A.—the largest self-service retailer in Europe— announced that it would sell its assets in Mexico, Japan, and Portugal.
Tiendas Chedraui accounted for 82 percent of the group’s sales and nearly 89 percent of its employees in 2005.
In 2005 it bought 29 supermarkets from Carrefour in Central and Southern Mexico.
Grupo Comercial Chedraui joined the Sherman Financial Group LLC in establishing Bancofácil, S.A., in 2006.
He owns 30.3% of the company (including 10 million shares he gave to his daughters), which went public on the Mexican stock exchange in May 2010.
As co-president, together with his brother Jose Antonio, this new billionaire has overseen aggressive expansion of the retail empire, which had sales of US $4.1 billion in 2011.
The stores there are branded El Super, and operated by Grupo Chedraui's Bodega Latina Corporation, headquartered in Paramount, CA. In 2018, Bodega Latina acquired Fiesta Mart in Texas.
On May 14, 2021, Bodega Latina announced that it would acquire Smart and Final from Apollo Global Management.
"Grupo Comercial Chedraui S.A. de C.V. ." International Directory of Company Histories. . Retrieved April 25, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/grupo-comercial-chedraui-sa-de-cv
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Chedraui competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| OXXO | 1977 | $2.5B | 129,001 | - |
| Southeastern Grocers | 2010 | $10.5B | 40,000 | 395 |
| Company Shop Group | - | $21.4M | 330 | - |
| Tomy | 2006 | $1.2B | 831 | - |
| Graeter's Ice Cream | 1870 | $530,000 | 5 | - |
| Boost Juice Bars UK | 2000 | $46.0M | 350 | - |
| Homier | 1983 | $42.2M | 200 | - |
| Frames | 1977 | $410,000 | 7 | 1 |
| Men | 2016 | $284.9K | 5 | - |
| Consumers Kitchens | 1972 | $380,000 | 7 | - |
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