Cardenas Markets announced on Wednesday that it had acquired Los Altos Ranch Market, integrating seven operation Phoenix locations into the Cardenas operating system.
This comes just months after Cardenas merged with Mi Pueblo in a move to try and become the largest Hispanic grocer in the United States. This week's move allows Cardenas to expand its footprint into Arizona and boost its number of stores to 53.
"Acquisitions and new strategic store locations are a key component of our growth strategy,” says 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.”
During the transition period, no immediate changes are expected in the operations of the Los Altos Ranch Market stores. The group of stores will gradually be integrated into Cardenas' operations.