ARIZONA NEWS

Arizona Asian grocery chain acquired by California company

Apr 13, 2024, 5:45 AM

expand
The Lee Lee International Supermarkets store in Chandler. (Maison Solutions Inc.)...

expand The Lee Lee International Supermarkets store in Chandler. (Maison Solutions Inc.)

(Maison Solutions Inc.)

Lee Lee International Supermarkets, a three-store Asian-focused international grocery store chain with locations in Peoria, Chandler and Tucson, has been acquired by a Southern California-based specialty grocery retailer.

Maison Solutions Inc. (Nasdaq: MSS), which owns a handful of supermarkets that offer traditional Asian and international food and merchandise, announced Wednesday it acquired Lee Lee Oriental Supermart Inc. through its wholly-owned subsidiary AZLL LLC, an Arizona limited liability company, for $22.2 million.

The purchase amount will be paid over a 10-month period, and includes $7 million in cash paid immediately at closing, with the rest paid through a secured note agreement.

Maison acquired Lee Lee so it could enter the Arizona market with an established base of stores before starting expansion.

“This transaction demonstrates our strategy of expanding by acquisition in geographic locations with large and growing Asian and ethnic populations,” John Xu, Maison’s president and CEO, said in a statement. “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.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Arizona congressional races...

KTAR.com

Arizona’s 9 congressional seats are up for grabs; who is winning each race?

One Arizona congressional race remained highly competitive as of Thursday night, while the state's eight other U.S. House contests were pretty much settled.

5 hours ago

The five Maricopa County Board of Supervisors seats were up for grabs during the 2024 election....

KTAR.com

2 Maricopa County supervisor races remain tight, other 3 are blowouts

Two Maricopa County Board of Supervisors races remain too close to call, while the three other contests are blowouts.

6 hours ago

David Schweikert and Amish Shah...

KTAR.com

Incumbent David Schweikert leads Amish Shah in Arizona CD1 race

Republican Rep. David Schweikert held a lead over Democrat Amish Shah in the race for Arizona Congressional District 1 as of Saturday night.

6 hours ago

The winner of the 18th annual wildlife photo contest for Arizona Game and Fish Department was chose...

Roxanne De La Rosa

Winner chosen for 18th annual Arizona Game and Fish Department photo contest

The winner of the 18th annual wildlife photo contest for Arizona Game and Fish Department was chosen out of more than 800 entries.

6 hours ago

Donald Trump is leading Kamala Harris in Arizona's presidential race....

KTAR.com

Donald Trump projected over Kamala Harris in race for president in Arizona

Four years after Donald Trump became the first Republican presidential candidate since 1996 to lose Arizona, he reclaimed the state's 11 electoral votes.

7 hours ago

A Phoenix man was sentenced to seven years in prison followed by three years of supervised probatio...

Roxanne De La Rosa

Phoenix man sentenced to 7 years in prison for assaulting officers

A man was sentenced to seven years in prison followed by three years of supervised probation for assaulting police officers.

8 hours ago

Sponsored Articles

...

Morris Hall

West Hunsaker, through Morris Hall, supports Make-A-Wish Foundation in Arizona

KTAR’s Community Spotlight this month focuses on Morris Hall and its commitment to supporting the Make-A-Wish Foundation in Arizona.

...

DISC Desert Institute for Spine Care

The best methods to make your back pain disappear for good

Are you struggling with back pain that will not go away?

...

Bright Wealth Management

Here’s how to save money on retirement planning

PHOENIX -- With inflation still going on, people planning on retiring still face many issues on when they can retire and how much money they need to achieve it.

Arizona Asian grocery chain acquired by California company