Ares Management LLC will acquire a majority stake in Smart & Final Holdings Corp., which is owned by private equity firm Apollo Global Management LLC (NYSE: APO), for $975 million.

Smart & Final is a warehouse-style store that sells household goods, food and other supplies. 

Ares is a Los Angeles-based private equity firm with about $54 billion in capital under management. The firm’s portfolio companies include Nortek Inc., Jacuzzi Brands Corp. and GNC Holdings Inc.

Partners Robert Robison and R. Alec Dawson of Morgan Lewis & Bockius LLP served as Smart & Final’s legal adviser for the deal. Michael Woronoff and Daniel Ganitsky of Proskauer Rose LLP served as Ares’ legal counsel.

 

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