On April 19, 2024, Maison Solutions Inc., a Delaware-incorporated company, announced the completion of its acquisition of Arizona-based Lee Lee Oriental Supermart, Inc. The acquisition, which was finalized on April 8, 2024, marks Maison Solutions' first expansion outside of California and is expected to double the company's top-line revenue with an additional $76 million annually. The deal, valued at $22.2 million, involved a $7.0 million cash payment at closing and the balance to be paid over 10 months through a secured note. The acquired chain operates three stores under the name Lee Lee International Supermarkets in Phoenix and Tucson, Arizona, and has demonstrated consistent profitability over the past three years. Maison Solutions has decided to retain the Lee Lee brand and management to maintain...Show More

On April 19, 2024, Maison Solutions Inc., a Delaware-incorporated company, announced the completion of its acquisition of Arizona-based Lee Lee Oriental Supermart, Inc. The acquisition, which was finalized on April 8, 2024, marks Maison Solutions' first expansion outside of California and is expected to double the company's top-line revenue with an additional $76 million annually. The deal, valued at $22.2 million, involved a $7.0 million cash payment at closing and the balance to be paid over 10 months through a secured note. The acquired chain operates three stores under the name Lee Lee International Supermarkets in Phoenix and Tucson, Arizona, and has demonstrated consistent profitability over the past three years. Maison Solutions has decided to retain the Lee Lee brand and management to maintain the loyalty of the existing customer base. The company also plans to implement operational improvements and leverage its strategic ownership stake in Dai Cheong Trading Company for supply chain efficiencies. The acquisition aligns with Maison Solutions' M&A strategy, which focuses on profitability, serving underserved Asian communities, and acquiring businesses with a loyal customer base. The company's Vice President of Corporate Development and Strategy, Chris Zhang, shared these details in a pre-recorded webinar, which is available for replay on the company's investor relations website.