Ontario-based Cardenas Markets, which operates multiple stores in Riverside and San Bernardino counties, and Bay Area-based Mi Pueblo are merging to create one of the largest Hispanic supermarket chains in the country, it was announced Thursday.
KKR and Victory Park Capital Advisors took proprietary interests in the two grocery chains and merged them under one management unit, according to a joint statement released by the private equity firms.
“Cardenas Markets and Mi Pueblo are committed to the communities they serve, and through this integration, they will be able to better deliver for those communities,” said KKR spokesman Vishal Patel. “With a vision of becoming the leading Hispanic grocer in the country, Cardenas Markets LLC will continue to prioritize their loyal customers through the company’s continued growth, while creating jobs and offering rewarding career paths for employees along the way.”
According to KKR and Victory Park Capital Advisors, the chains will not be re-branded. The emphasis will be on expansion, improving efficiencies and increasing revenue opportunities that stem from the coupling.
–City News Service
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