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ANAHEIM, Calif. -- Northgate Gonzalez, a supermarket chain here that specializes in selling Mexican products, reportedly finalized its purchase of ethnic retailer El Tigre Foods last week. The move makes the 25-store chain one of the largest Latino market chains in the nation.
Northgate Gonzalez is acquiring El Tigre's five supermarkets in San Diego County, according to a report in the San Diego Union-Tribune.
Northgate, which is owned by the 13 siblings of the Gonzalez family, will now have 30 stores in Orange, Los Angeles, and San Diego counties. Northgate will retain the 500 employees of El Tigre.
The purchase price was not released, but the San Diego Union-Tribune report cited a source as saying it was in excess of $10 million.
El Tigre, also a retailer that specializes in Mexican products, is owned by the Choi brothers, who are Korean.
Northgate generates almost $300 million in annual sales, according to the report. Its stores specialize in offering customers a wide variety of Mexican and Latin American products.