According to the companies, the merger will provide fan-favorite food and wines from both brands across all stores. Together, the two will continue to disrupt the food shopping and café landscape while redefining the neighborhood market with a multiformat and e-commerce experience built for the next generation consumer, they added.
Additionally, with both concepts headquartered in Chicago, there are scale advantages and the ability to leverage resources across both formats. At present, the combined brands have 34 locations in the Chicago, Washington, D.C., Dallas and Austin, Texas, markets.
"We are thrilled to share Foxtrot cult favorites like our gummy candies, savory snacks and unique wines with the Dom's community and to bring Dom's delicious, expertly prepared meal options to local Foxtrot stores," Williams added. "In addition to our markets, our café and coffee businesses are at the heart of our stores and we look forward to continued growth through our partnership. Together, we will bring together community, convenience and curated culinary to create a unique experience for consumers."
The merger is expected to close in the fourth quarter of 2023 and is subject to customary closing conditions. Guggenheim Securities is acting as financial advisor to Foxtrot Market and Latham & Watkins is serving as the legal advisor. Greenberg Traurig LLP is serving as legal advisor to Dom's Kitchen & Market.