Hispanic supermarket chain Cardenas Markets of Ontario, Calif., said it will expand its Southern California footprint through the acquisition of six Rio Ranch Market store locations.
“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,” Doug Sanders, chairman and CEO of Cardenas Markets, said in a release. “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.”
Rio Ranch Markets operates stores in Chino, Banning, Fontana, Perris, Riverside and San Bernardino, Calif.
During the transition period, no immediate changes are expected to the operations of Rio Ranch Market stores, the company said. The group of stores will gradually be integrated into Cardenas Markets operations while continuing to offer the best shopping experience to the communities where they operate, according to the release.
The company said it expects the transaction to close by the middle of July 2022.
Cardenas Markets Vice President of Produce Shonna Williams recently spoke about the impact of higher food costs on shopper habits and other topics at The Packer’s West Coast Produce Expo’s “Fresh Trends at Retail” expert panel.
“What I’ve noticed, due to the higher costs, is now people are shopping more frequently,” Williams said. “They’re going into the store buying only what they need because the waste is so huge right now, especially with inflation.”
Cardenas Markets currently operates a total of 51 stores under the Cardenas Markets banner, seven stores under the Los Altos Ranch Markets banner and one store under the Cardenas Ranch Markets banner in California, Nevada and Arizona.
