Ontario, Calif.- based Cardenas Markets announced June 9 that it is acquiring six Rio Ranch Market stores, which will expand the company's footprint in Southern California.
“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.”
Cardenas operates in California, Nevada and Arizona, with 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.
Rio Ranch Markets, founded in 1983, has only the six stores in Chino, Banning, Fontana, Perris, Riverside and San Bernardino, according to the release.
During the transition period, no immediate changes are expected to the operations of Rio Ranch Market stores, Cardenas' news release said. Rather, the group of stores will be gradually integrated.
The transaction is expected to close by mid-July.