Cardenas Markets and Mi Pueblo announced on Thursday that they will merge, becoming one of the nation's largest Hispanic supermarket chains. The merger was first announced by KKR, a leading global investment firm that had made significant investments in both companies over the last year.
The combined business will operate as Cardenas Markets LLC while each grocery chain will continue to operate separately. Each 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 as well, and I am proud to be working with two leading retailers to offer the best shopping experience to our communities in Norther and Southern California, as well as Las Vegas."
The merger will allow both businesses to maximize efficiency, according to a press release, as well as offer competitive prices for quality products and invest in the store experiences to further improve the service and quality that customers expect. The company has planned a number of new store openings over the next few years throughout California and Nevada.
"Cardenas Markets and Mi Pueblo are committed to the communities they serve and through this integration will be able to better deliver for those communities," said KKR's Vishal Patel. "With a vision of becoming the leading Hispanic grocer in the country, Cardenas Markets LLC will continue to prioritize their loyal customers through the company's continued growth, while creating jobs and offering rewarding career paths for employees along the way."