Investment Firm Buys Cardenas Markets
This is the second acquisition by KKR of a Hispanic-themed grocery chain in California. KKR has also purchased, in partnership with Victory Park Capital of Chicago, Mi Pueblo, based in San Jose and operating in Southern California.
The Riverside, Calif. Press-Enterprise quoted an analyst as speculating that KKR may be more interested in the real estate held by the two chains than in operating the stores. He said that Northgate Gonzales Markets is the only Hispanic-themed grocery chain that is now consistently performing well in California.