The growth in Hispanic-owned businesses in the U.S. is outstripping that of companies in general, according to a recent study.

Between 2012 and 2015 the number of Hispanic-owned businesses has grown at an annual rate of 7.5 percent, 15 times faster than the 0.5 percent growth rate for all companies, according to the study by the consulting firm Geoscape and the United States Hispanic Chamber of Commerce.

There are an estimated 4.07 million Hispanic-owned businesses in the country, up 57 percent since 2007, the study said. Revenue at Hispanic-owned companies also has surged, rising 88 percent to a projected $661 billion this year from $351 billion in 2007.

While Geoscape expected an increase in growth of Hispanic-owned businesses, the pace came as a surprise, said Cesar Melgoza, CEO of the Miami-based company, which has released other studies on Hispanic businesses in the U.S.

One reason for the increase is the difficulty some Latinos have found working and advancing in big U.S. companies. “Many choose to create their own businesses because they didn’t see the opportunities in corporate America,” Melgoza said.

Albertsons supermarket will reduce debt through an IPO

Albertsons Cos., a U.S. supermarket chain with more than 2,000 stores, said it plans to raise as much as $1.84 billion in an initial public offering to reduce debt.

The company will trade on the New York Stock Exchange under the ticker ABS, and plans to use proceeds to repay an $850 million loan, it said in a regulatory filing Friday. The filing comes after its private-equity owner, Cerberus Capital Management, completed a $9 billion acquisition of Safeway Inc. to create the second-largest grocery store chain in the U.S. behind Kroger Co., according to PrivCo Media.