Maison Solutions Acquires Arizona-Based Asian Grocer Lee Lee Supermarkets
Maison Solutions Inc. a U.S.-based specialty grocery retailer offering traditional Asian and international food and merchandise, has acquired Lee Lee Oriental Supermart, Inc., a three-store supermarket chain operating under the name, Lee Lee International Supermarkets, in the greater Phoenix and Tucson metro areas.
The company acquired the supermarkets through AZLL, LLC, an Arizona limited liability company and the company’s wholly owned subsidiary. The purchase price of $22.2 million will be paid over a 10-month period and includes $7 million in cash paid immediately at closing on April 8, with the rest paid through a secured note agreement.
“This transaction demonstrates our strategy of expanding by acquisition in geographic locations with large and growing Asian and ethnic populations,” said John Xu, president and chief executive officer of Maison Solutions. “Lee Lee International Supermarkets has an established brand presence in Arizona and is a perfect fit for Maison, giving us a base for further growth in the region.
“The strategic acquisition is expected to add approximately $70 million in annual revenue for us, effectively doubling our current size. We remain committed to future growth through new store openings and acquisitions,” Xu added.
Stores Highlights:
- The Chandler (Phoenix metro area) store comprises more than 52,000 square feet. This market includes a Vietnamese restaurant, a bakery, and a jewelry store.
- The Peoria (Phoenix metro area) store comprises more than 60,000 square feet. This market includes a Vietnamese restaurant, a boba tea store, a jewelry store and a clothing store.
- The Tucson store comprises more than 51,000 square feet. This market includes a Vietnamese restaurant and a BBQ restaurant.
Lee Lee International Supermarkets is the largest international market in Arizona. Its three locations offer products from more than 30 countries and regions, and provide the highest quality product selection available. Founded over 30 years ago, Lee Lee International Supermarkets has won multiple awards for best international supermarket, Asian market and specialty foods.
Maison Solutions Inc. is a U.S.-based specialty grocery retailer offering traditional Asian food and merchandise, particularly to members of Asian-American communities. The Company is committed to providing Asian fresh produce, meat, seafood, and other daily necessities in a manner that caters to traditional Asian-American family values and cultural norms, while also accounting for the new and faster-paced lifestyle of younger generations and the diverse makeup of the communities in which the company operates. Since its formation in 2019, the company has acquired equity interests in four traditional Asian supermarkets in the Los Angeles area, and has been operating them under the brand name HK Good Fortune.
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IFT, PepsiCo Partner on Scholarship for IFT FIRST Attendance
IFT’s Feeding Tomorrow Fund has partnered with PepsiCo to support the next generation of the science of food community through a joint Academic and Travel Undergraduate Hybrid Scholarship. This unique hybrid study-and-travel scholarship offers a $5,000 academic scholarship in addition to a $1,000 travel stipend to IFT FIRST: Annual Event and Expo, where the recipient will join the global science of food community to experience innovative products and solutions, cutting-edge scientific sessions and exclusive networking opportunities.
To be eligible for the Academic and Travel Undergraduate Hybrid Scholarship, applicants must demonstrate a commitment to the science of food, meet a minimum grade point average of 3.0, and plan to enroll full- or part-time as a rising sophomore, junior, or senior in a food science program. The scholarship is open to candidates anywhere in the world.
“The Feeding Tomorrow Fund is excited to partner with a leading company like PepsiCo to support a future leader of tomorrow. The PepsiCo and IFT Academic and Travel Undergraduate Hybrid Scholarship is an exciting opportunity for a passionate student to not only support their education, but to attend the science of food event that has helped transform the global food system for many years,” added Steve Hartley, Director of Fund Development at IFT.
The recipient will also have the opportunity to attend the PepsiCo Meet & Greets at the IFTSA Student Lounge during IFT FIRST. Through its sponsorship of the IFTSA Student Lounge, PepsiCo is connecting its research and development professionals with the attending IFTSA (Institute of Food Technologists Student Association) community interested in pursuing R&D as a career path. Attendees can network with PepsiCo employees; ask questions about the company’s products, culture, and career opportunities; and gain insights into the latest trends and developments in the food and beverage industry.
“PepsiCo is a proud to encourage and enable students to grow their skills and passion in the science of food,” said Mary Carunchia, PhD, Senior Principal Scientist at PepsiCo.
Since 1985, the Institute of Food Technologists through the Feeding Tomorrow Fund has awarded more than 2,700 scholarships totaling over $3 million. In addition to graduate and undergraduate scholarships, IFT’s Feeding Tomorrow Fund also offers scholarship awards for students with specific criteria such as greatest financial need, those transferring from a community college, and first-generational college enrollment.
The application deadline for the PepsiCo and IFT Academic and Travel Undergraduate Hybrid Scholarship is March 29.
To learn more, please visit IFT’s Feeding Tomorrow Scholarships page. Interested students may also email International Scholarship and Tuition Services at ContactUs@applyists.com or IFT at feedingtomorrow@ift.org to learn more about the application process.
Early bird registration is currently open for IFT FIRST, being held July 14-17 at McCormick Place in Chicago. To experience the largest global food science and innovation expo or to learn more, go to www.iftevent.org.
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HARIBO Creates Treat Retreat for National Unicorn Day
America’s #1 gummi brand, is celebrating its brand-new Unicorn-i-licious gummies by offering fans a one-of-a-kind, overnight experience in the heart of New York City’s Soho neighborhood.
Free two-night stays in HARIBO’s unicorn-themed Treat Retreat will go live on HariboTreatRetreat.com at 12 p.m. ET on Tuesday, April 9 (National Unicorn Day).
The Treat Retreat brings HARIBO’s fun and colorful Unicorn-i-licious gummies to life for kids and kids at heart. The 1,800-square-foot, 2-bedroom loft is outfitted from floor to ceiling with countless Instagram-worthy moments, including:
- A family-friendly mini bar stocked with free HARIBO treats
- A life-size unicorn statue for photo opportunities
- A build-it-yourself pillow fort
- A ball pit overflowing with more than 1,000 plush unicorn stuffed animals
- A gummi wall art installation
- Unicorn-i-licious gift bags (filled with fun swag)
“At HARIBO, every new gummi we introduce is a chance to spark excitement in our fans, and Unicorn-i-licious is the latest example of that,” said Avery Jukes, senior brand manager at HARIBO of America. “We know our fans love our iconic treats like Goldbears, Twin Snakes and Starmix, and at the same time they’re interested in new, innovative products. With Unicorn-i-licious, we wanted to inspire childlike happiness for fans of all ages, so we crafted a whimsical unicorn shape, new fun flavors and brought a magical, colorful, immersive dream space to reality for our consumers in one of the most exciting places in the world, New York City.”
Groups of up to four people can claim a stay at the Treat Retreat for the following dates:
- Wednesday, April 10 to Friday, April 12
- Saturday, April 13 to Monday, April 15
- Tuesday, April 16 to Thursday, April 18
Unicorn-i-licious marks HARIBO’s first-ever unicorn-shaped gummi, as well as the debut of cotton candy and tangerine flavors in the U.S., joining a tasty assortment that also includes apple, blue raspberry, banana and berry punch.
For more information on HARIBO and the Treat Retreat, visit haribo.com and follow along at @HARIBOUSA on Instagram.
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