Renovo Capital, LLC, through its Renwood Opportunities Fund, acquired the assets of Andronico’s Markets, Inc.
Since 1929 Andronico’s has operated specialty grocery stores throughout the San Francisco Bay Area. Andronico’s features locally grown, raised, produced or prepared foods and products throughout its stores and offers competitively priced everyday grocery products. Andronico’s is known for its wide variety of organic and specialty food items not found in a traditional grocery store.
Renovo partnered with existing management to invest working capital to remerchandise the grocery stores while leveraging Renovo’s operating network to augment the executive team with a new Chief Financial Officer. This leadership team then launched a full chain store remodel program and growth strategy.