June 09, 2022
Ontario, California-based Cardenas Markets announced June 9 that it will acquire six Rio Ranch Market stores, expanding its presence in Southern California.
“Cardenas Markets, a member of The Hispanic Retail Chamber of Commerce, will grow stronger every day as this acquisition will further solidify the company’s position as one of the leading Hispanic supermarket chains,” Doug Sanders, president and CEO, said in a statement. Cardenas Markets executive. «As we look to the future, we will continue to identify strategic opportunities to grow our business while providing a new and authentic shopping journey for our customers.»
Cárdenas operates in California, Nevada, and Arizona, with 51 Cardenas Markets-branded stores, seven Los Altos Ranch Markets-branded stores, and one Cardenas Ranch Markets-branded store. Rio Ranch Markets, founded in 1983, has only six stores in Chino, Banning, Fontana, Perris, Riverside and San Bernardino, according to the release.
During the transition period, no immediate changes are expected in the operations of the Rio Ranch Market stores, according to Cárdenas’ press release. Rather, the group of stores will be gradually integrated. The transaction is expected to close in mid-July.