Grupo Gigante is moving forward with its planned acquisition of the Mexican restaurant chain La Casa de Toño, according to multiple reports. The deal is valued at approximately $400 million, as reported by El Economista and sdpnoticias.
Patricia Armendáriz, a businesswoman and former federal deputy, commented on the transaction, saying the deal is essentially done, according to El Financiero. She used the phrase "this pozole is already cooked" to describe the advanced state of the negotiations, per the outlet.
The purchase would bring the popular chain, known for its pozole and other traditional Mexican dishes, under the control of Grupo Gigante, a major retail conglomerate. Grupo Gigante operates supermarkets and other retail formats across Mexico.
To help finance the acquisition, Grupo Gigante has refinanced its debt with a new credit line of 3.5 billion pesos, according to diariodetabasco.mx. The refinancing was arranged with Inbursa, the financial group led by Carlos Slim, as reported by EL CEO.
The reports indicate that the refinancing is a key step to complete the purchase. The new credit line would provide Grupo Gigante with the liquidity needed to close the transaction.
La Casa de Toño, which started as a single restaurant in Mexico City, has grown into a well-known brand with dozens of locations. Its menu focuses on affordable Mexican comfort food, including pozole, tacos, and quesadillas.
The acquisition would mark a significant shift for the family-owned chain, which has built a loyal customer base over several decades. Grupo Gigante's retail experience could help expand the brand further.
What to watch next: Whether the deal receives final regulatory approval and how Grupo Gigante plans to integrate La Casa de Toño into its portfolio.
