Smart And Final Iris Corp

It was a grocery that grew along with Southern California, opening in 1871 as a small store on Los Angeles Street, finding new owners named Mr. Smart and Mr. Final and expanding into a chain of small warehouse-style stores. Now Smart & Final Inc. is changing again. The company said Tuesday that it had agreed to be acquired by New York private equity firm Apollo Management in the latest wave of money to flow into Southern California supermarkets.

Warehouse grocer Smart & Final Inc. said third-quarter sales rose 6%, helped by its store growth program. The City of Commerce-based company said income from continuing operations was $7.

Smart & Final Inc., which operates 250 food warehouses in California, other Western states and Mexico, said second-quarter profit sank 29% as higher operating costs outweighed modest sales growth.

Warehouse food retailer Smart & Final Inc. is test marketing a new product -- itself. The City of Commerce-based chain said Monday that it planned to hire legal and financial advisors to help it determine "strategic alternatives," Wall Street-speak that usually means selling the company.

Smart & Final Inc., the City of Commerce-based operator of 250 warehouse grocery stores in the Western U.S., said late Sunday that it would hire advisors and review its options as its largest shareholder plans to sell assets.

Warehouse grocer Smart & Final Inc. said Wednesday that it agreed to settle an overtime pay lawsuit filed by California employees and would therefore take a $19-million pretax charge against third-quarter earnings.

Warehouse supermarket chain Smart & Final Inc. reported first-quarter profit dropped sharply year-over-year, as sales were weakened by record rainfall in the company's key Southern California region.