Cardenas Markets Acquires Los Altos Ranch Market
ONTARIO, CA - Mergers and acquisitions continue to play a leading role in Cardenas Markets’ growth strategy as the Hispanic food trends continue to rise. One of the leading Hispanic supermarket chains in the country, the retailer looked to further solidify its spot with the acquisition of Los Altos Ranch Market.
“Acquisitions and new strategic store locations are a key component of our growth strategy,” said John Gomez, President and CEO of Cardenas Markets. “We are fortunate to have identified Los Altos Ranch Market as a partner whose values and mission are aligned with our organization. We welcome the employees of Los Altos Ranch Market into the Cardenas Markets family and look forward to the many opportunities of growth resulting from this partnership.”
The buyout means integrating seven operating Phoenix locations into the Cardenas family, according to a press release, expanding its reach into the Arizona market and bringing its store count to 53 total.
As a result, the acquisition marks a new milestone for the chain as a new region as well as its addition to the recent merger with Northern California’s Mi Pueblo banner last July.
As the newest addition, Los Altos Ranch Market brings a rich history of serving the Hispanic community dating back to 1982, while the brand has been a trusted community partner in Phoenix since its first location opened in 2002.
The group of stores will gradually be integrated into Cardenas’ operations while continuing to offer the best shopping experience to the communities they serve, but the retailer said that no immediate changes are expected to the operations of Los Altos Ranch Market stores during the transition period.
No financial details were disclosed upon release.