Mexican Supermarket S-Mart Said to Hire Citigroup to Study Sale

S-Mart Mexicana SA, an operator of 61 supermarkets in northern Mexico, hired Citigroup Inc. to study options including a sale of the company, according to two people with knowledge of the matter.

S-Mart, which is based in the border city of Juarez and has more than half of its stores there, posted annual revenue of more than $1 billion last year, said the people, who asked not to be identified because the process is private. As a closely held operator, founded by entrepreneur Enrique Munoz, S-Mart doesn’t disclose its financial results.