Cardenas, Mi Pueblo to Merge
Hispanic grocery chains Cardenas Markets and Mi Pueblo have announced that they will merge to become Cardeanas Markets LLC, one of the largest Hispanic supermarket chains in the nation, with each one operating separately.
The decision was made by New York-based private equity firm KKR, which made significant investments in both chains last year, alongside Chicago-based Victory Park Capital. Both chains will be managed under one executive team led by CEO John Gomez.
“Regardless of acculturation level or language preference, Hispanic people use food as a vehicle to connect with their culture and heritage,” Gomez said. “This is a growing demographic, not only in size, but also in influence ... and I am proud to be working with two leading retailers to offer the best shopping experience to our communities in Northern and Southern California, as well as Las Vegas.”
The launch of Cardenas Markets LLC will make it possible for both businesses to maximize efficiencies, offer competitive prices for quality products, and invest in the store experiences to further improve the service and quality that customers have come to know. The combined company will also focus on growth opportunities for team members and offer extensive training programs to improve their skills.
The company has planned a number of new store openings over the next few years. With locations throughout California and Nevada, Cardenas Markets LLC also plans to explore opportunities to expand the company’s footprint across other key Hispanic markets.
Based in Ontario, Calif., Cardenas Markets operates 31 stores throughout the Inland Empire Imperial County, Ponoma and Las Vegas.
Mi Pueblo, with headquarters in San Jose, Calif., operates more than a dozen stores in the San Francisco Bay Area, Monterey Peninsula and the Central Valley.