Ares-backed grocer Smart & Final Stores files for an IPO that could raise $300 million

Smart & Final Stores, a warehouse-style grocery chain backed by Ares with 247 locations in the Western US, filed on Friday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely a placeholder. We estimate the company could raise $300 million or more. May IPO Ares Management (ARES) bought the company for $975 million in the 4Q12.

The Commerce, CA-based company, which was founded in 1871 and booked $3.3 billion in sales for the 12 months ended March 31, 2014, plans to list under the symbol SFS. Credit Suisse, Morgan Stanley, Deutsche Bank and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.