California-based Hispanic food retailers Bodega Latina Corp. is purchasing Fiesta Mart for $300 million.

Bodega Latina will acquire 63 Fiesta Mart locations in Texas, including 32 in the Houston area, by the beginning of the second quarter.

"The acquisition of Fiesta allows us to meaningfully expand into Texas via an established, well known supermarket operator," says Carlos Smith, president and CEO of Bodega Latina. "Through the combination of the strengths of our two organizations, we will be well positioned to significantly accelerate our vision of efficiently offering high quality products at the lowest possible prices. We believe this transaction will be beneficial for all of our stakeholders, including customers, suppliers, employees, and vendors. We look forward to welcoming Fiesta's talented employees and working together to create the premier Hispanic grocery retailer."

The move creates on of the largest Hispanic-focused supermarket companies in the U.S., with a total of 122 stores across California, Arizona, Nevada, New Mexico and Texas and revenues of approximately $3 billion. 

The acquisition comes less than a year after Cardenas Markets scooped up fellow Hispanic retailer Mi Pueblo in an aggressive move. It's another sign that the Hispanic food market is thriving.

More than 50 percent of the fast-growing U.S. Hispanic population resides within the five states in which Bodega now operates.