By Abigail Summerville

(Reuters) -Private equity firm Apollo Global Management is looking to sell its Hispanic grocery chain Heritage Grocers Group, which could fetch roughly $1.5 billion, as fear of immigration raids weakens consumer demand in Latino communities across the U.S., according to two people familiar with the matter.

The firm is working with investment bank UBS on the sale process, they said, requesting anonymity as the matter is private.

The grocery chain generates around $150 million of earnings before interest, taxes, depreciation and amortization and over $2 billion of revenue, they said.

Apollo and UBS declined to comment. Heritage Grocers did not respond to a request for comment.

Heritage owns El Rancho Supermercado, Cardenas Markets and Tony’s Fresh Market. In 2022,

See Full Page