MEXICO CITY, July 6 (Reuters) - Mexican supermarket operator Chedraui said on Tuesday it has bought Fiesta Foods in Los Angeles, expanding its reach in the Hispanic market in the U.S. Southwest.
Chedraui CHDRAUIB.MX, Mexico's No. 4 retailer which went public in late April, said it financed the purchase of Fiesta, with its 11 stores, with debt.
Chedraui, which has 142 stores in central and southern Mexico, said it has already exceeded its goal of operating 26 additional stores at the end of the year. With the Fiesta purchase, the company said it was on track to add 34 stores by the end of 2010.
Chedraui, with sales of nearly $4 billion last year, trails dominant retailer Wal-Mart de Mexico, or Walmex WALMEXV.MX, with its more than 1,000 supermarkets across Mexico, and Monterrey-based Soriana SORIANAB.MX with 500 units in the country. (Reporting by Patrick Rucker; Editing by Richard Chang)
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