Home » Cardenas Markets Acquires Rio Ranch Market Stores, Expands Footprint
Independent Store News West

Cardenas Markets Acquires Rio Ranch Market Stores, Expands Footprint

Cardenas Uber

Ontario, California-based Cardenas Markets has announced it will expand its Southern California footprint through the acquisition of six Rio Ranch Market locations in Banning, Chino, Fontana, Perris, Riverside and San Bernardino.

The company expects the transaction to close by the middle of July. During the transition period, no immediate changes are expected to the operations of Rio Ranch Market. The group of stores will gradually be integrated into Cardenas Markets’ operations.

“Cardenas Markets is stronger than ever, and this acquisition further solidifies the company’s position as one of the leading Hispanic supermarket chains in the country,” said Doug Sanders, chairman and CEO.

“As we look ahead, we will continue to identify strategic opportunities to grow our business, while providing a fresh and authentic shopping trip for our customers.”

Cardenas Markets, one of the largest Hispanic supermarket chains in the country, currently operates 51 stores under the Cardenas Markets banner, seven under the Los Altos Ranch Markets banner and one under Cardenas Ranch Markets banner. It has stores in Arizona, California and Nevada. For more information, visit cardenasmarkets.com.

Founded in 1983, Rio Ranch Markets operates six stores in Southern California and emphasizes fresh foods, including meat, produce, prepared foods, bakery and homemade tortillas.

In the transaction, The Food Partners served as strategic and financial advisor to Rio Ranch Market. TFP, headquartered in Washington, D.C., is the nation’s pre-eminent investment banking firm to the food industry. TFP provides merger, acquisition and divestiture services, private placements of debt and equity capital, financial restructuring, strategic advisory and loan portfolio services.

Add Comment

Click here to post a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

How Can Technology Help Independent Grocers In A Global Pandemic?

With a tremendous uptick in technology solutions in the industry, LOC Software discusses the technology trends and product innovations heading for the future in independent grocery.

Learn More

Learn how grocers of all sizes can engage Gen Z – the 67 million young people born between 1997 and 2012. Gen Z’s are the most racially and ethnically diverse of any generation.

They are the future of your business – your customers, your staff, and the influencers who will impact the buying preferences of your customers and the values of your staff.

Watch Now

Featured Photos

Featured Photo Illuminator Torch Awards, April 5
Anaheim Hilton
Anaheim, California
Share via
Copy link
Powered by Social Snap