Monday, July 10, 2017

Two California grocers to merge; more stores planned

Two Hispanic supermarket chains are merging with an eye to extending their footprint beyond their home base. 
 
Private equity firm KKR announced it is combining Cardenas Markets and Mi Pueblo, which KKR (and Victory Park Capital) acquired at the end of last year. The combined business will operate as Cardenas Markets LLC and will become one of the largest Hispanic supermarket chains in the country. 
 
The company said it has a number of new store openings planned over the next few years. With locations throughout California and Nevada, Cardenas Markets plans to explore opportunities to expand the company’s footprint across other key Hispanic markets.. . . more

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