By Lauren Hirsch
(Reuters) - U.S. boutique investment bank Peter J. Solomon Co has hired Scott Moses and Greg Grambling to head its food retail and restaurant investment banking practice, a spokeswoman for the bank said on Tuesday.
Mosesand Grambling previously worked at investment bank Sagent Advisors, where Moses led the food retail and restaurants practice and Grambling was a principal in the group. Moses will be a managing director at Peter J. Solomon and Grambling will be a director.
"Scott has builtone of the leading food retail M&A advisory practices in the United States, particularly among family-owned grocery operators," Peter J. Solomon founder and chairman Peter J. Solomon and Chief Executive Marc Cooper said in a joint statement.
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Moses and Grambling have advised regional supermarkets on their sales to bigger peers, as weak margins fuel grocery consolidation. Last year, they advised Kroger Co on its acquisition of Milwaukee-based Roundy's Supermarket Inc, valued at roughly $800 million, including debt. They also advised Boulder, Colorado-based specialty grocer Lucky's Market in its equity stake sale to Kroger, as well as United Supermarkets on its sale to Albertson's Cos Inc
French investment bank Natixis SA bought a majority stake in Peter J. Solomon earlier this year.
(Editing by Bill Rigby and Bill Trott)