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Report: Apollo weighs sale of Smart & Final warehouse store business

Apollo Global Management Inc. is looking to sell Smart & Final Foodservice, the warehouse store business of its recently acquired U.S. food retailing company Smart & Final Stores Inc., for more than $1 billion, including debt, Reuters reported, citing people familiar with the matter, who added that the sale would exclude the company's discount grocery store business.

Investment banks Credit Suisse Group AG and Deutsche Bank AG were tapped to run an auction for the division, Reuters said, citing its sources.

Smart & Final Foodservice reported EBITDA for the 2019 financial year of over $80 million.

Apollo, Credit Suisse and Smart & Final declined to comment, and Deutsche Bank did not respond to a request for comment by Reuters.