Now Open in Banning, CA
Cardenas Markets Plans Grand Opening Festivities for its Banning, CA Store Location
This marks the company’s first store to serve the San Gorgonio Pass
Ontario, California (September 27, 2022) – Cardenas Markets is excited to announce that grand opening festivities for its store located at 3317 W. Ramsey Street in Banning, CA will take place on Wednesday, September 28, 2022, at 10:00 a.m.
The Banning location, which previously operated under the Rio Ranch Market banner, marks the company’s expanded footprint and is the first to serve the San Gorgonio Pass area.
“We are committed to bringing our exceptional variety of fresh and authentic Hispanic offerings in addition to traditional grocery staples to Banning residents,” said Adam Salgado, Chief Marketing Officer for Cardenas Markets. “Customers will find amazing values in a convenient, fun and festive environment,” Salgado added.
In addition to a formal ribbon cutting, festivities include remarks from local dignitaries and elected officials, and live entertainment. To further demonstrate its commitment to the Banning community, the Cardenas Markets Foundation will make donations totaling $10,000 to the Banning Unified School District ($5,000), and Faith in Action of Banning, CA ($5,000).
The company’s Banning location features:
- A colorful Produce Department with a wide-array of perfectly ripe, seasonal fruits and vegetables from the USA and Latin America at affordable prices
- A Full-Service Meat Department offering USDA Choice beef; fresh cuts of beef, pork, and chicken cut daily; and a large selection of seafood
- An authentic Mexican Cocina where customers can savor the flavors of Cardenas’ signature carnitas, tamales, taquería classics and enjoy great Daily Deal options
- A Tortilleria featuring authentic corn tortillas made by utilizing traditional Nixtamal technique in addition to flour tortillas and masa made from scratch
- A Bakery filled with specialty pastries, desserts, cakes, pan dulce and bolillos baked fresh daily
The store will operate from daily from 7:00 a.m. – 10:00 p.m.
Photos from the Cardenas Markets Banning, CA Grand Opening
Cardenas CARES Community Giving Program
The Cardenas Markets Foundation Celebrates National Nonprofit Day by Launching the Cardenas CARES Community Giving Program
Ontario, California (August 17, 2022) – The Cardenas Markets Foundation aspires to serve as a pillar of ongoing support in every community where Cardenas Markets operates and is celebrating National Nonprofit Day by launching the Cardenas CARES (Committed, Active, Reliable, Empowering, Supportive) Community Giving Program.
Upon checkout, every store across the entire company will provide its customers the opportunity to donate $1, $3 or $5 to the Cardenas Markets Foundation. Funds raised through the Cardenas CARES program will benefit nonprofit organizations embedded in our local communities.
In addition, by visiting cardenasmarket.com or requesting a Cardenas CARES Community brochure from their local Store Director, nonprofit organizations seeking support from the Cardenas Markets Foundation will find the company’s giving guidelines and criteria.
“Our customers are like family, and they can always count on us to be there for them,” said Adam Salgado, Cardenas Markets Foundation President and Chief Marketing Officer for Cardenas Markets. “Not only are we committed to providing fresh offerings and an authentic shopping experience, we are also dedicated to providing unwavering community support,” Salgado added.
About Cardenas Markets Foundation The Cardenas Markets Foundation is a stand-alone, 501(c)(3) nonprofit organization. The mission of the Cardenas Markets Foundation is to actively support and meet the needs of the communities where Cardenas Markets does business. This is achieved by providing funds to organizations that support and advance health initiatives, children’s well-being programs, hunger relief efforts and educational opportunities.
Cardenas Markets Presents Loteria Prizes
Cardenas Markets Presents $50,000 to Grand Prize Winner of Cardenas Markets Loteria Scratcher Sweepstakes Tournament
The Company also Presented Free Groceries for a Year to Runner-up
Ontario, California (August 10, 2022) – Cardenas Markets Loteria Scratcher Sweepstakes has concluded, and the company is excited to announce that Hayward, CA resident Maria Antonia G. is the grand prize winner of $50,000!
Team Members from the company’s Hayward location along with mariachis joined Cardenas Markets Chief Marketing Officer Adam Salgado in presenting Maria Antonia with a $50,000 check. The check presentation took place on August 3, 2022, in the parking lot of the company’s store located at 187 Harder Road in Hayward, CA.
During the ceremony Maria Antonia noted that she planned to share her winnings with her family who were also in attendance to partake in the festivities.
Additionally, on July 28, 2022, Communications Director Marisa Kutansky along with local store Team Members presented Perris, CA resident Veronica O. with Free Groceries for a Year in the form of $5,200 in Cardenas Markets gift cards.
“The company is honored and pleased to present Maria Antonia G. and Veronica O. with their sweepstakes winnings,” Salgado said. “Our customers are at the center of everything we do, and in addition to providing the freshest and most authentic offerings we are also dedicated to providing them with fun, engaging and authentic opportunities,” he added.
The sweepstakes program took place from April 20, 2022, through June 14, 2022, in all 59 Cardenas Markets locations culminating with the virtual Loteria Tournament.
Apollo Funds to Acquire Cardenas Markets
Upon completion of the acquisition, Apollo Funds’ portfolio company Tony’s Fresh Market to combine with Cardenas Markets to create a leading Hispanic and ethnic-focused grocer
NEW YORK– June 14, 2022 – Yesterday, Apollo (NYSE: APO) announced that funds managed by its affiliates (the “Apollo Funds”) have agreed to acquire Cardenas Markets (“Cardenas”), a leading grocery retailer focused on serving the Hispanic community, from investment funds affiliated with KKR, a leading global investment firm. Upon completion of the transaction, Apollo Funds will combine Tony’s Fresh Market, a Chicago-based portfolio company, with Cardenas Markets, which operates across California, Nevada and Arizona, to create a leading Hispanic- and ethnic-focused grocer. Both companies will continue to operate under their respective brands and local leadership, while benefitting from greater scale, complementary capabilities and an expanded operating footprint.
Founded in 1981, Cardenas is one of the largest Hispanic grocery chains in the country with a differentiated store concept providing high-quality, specialty groceries at affordable prices. The Company, led by CEO Doug Sanders, today operates 59 stores and sources products from over 500
vendors. The combined Cardenas-Tony’s footprint will span nearly 80 stores across the western and mid-west United States with approximately $1.8 billion in combined revenues. Sanders will serve as CEO of the combined company and Cardenas chain, while Frank Ingraffia will continue to serve as the CEO of the Tony’s chain.
“Since joining Cardenas, we have made great progress in growing and enhancing our operations with KKR’s support, and I am thrilled by the opportunity for our team to now partner with Frank and the Tony’s team, leveraging our collective strengths. Together, as two of the highest quality Hispanic and ethnic grocers, we can deliver even greater value to the communities we serve,” Doug Sanders, CEO of Cardenas said. “Apollo private equity has an extensive best-in-class track record of success in food retail, and I am thrilled to partner with Andy Jhawar and the Apollo team again in this exciting next chapter for Cardenas. I would also like to thank KKR, which been a tremendous strategic partner over the past six years, helping us grow and professionalize the business.”
Andrew Jhawar and Joanna Reiss, Apollo Private Equity Partners, said: “Cardenas has grown significantly over the last several years under Doug’s leadership and we are excited to accelerate its growth in combination with Tony’s in this next phase. We are excited to once again partner with Doug following
our highly successful investment in Sprouts Farmers Market which Doug led as CEO under Apollo funds’ ownership. Cardenas and Tony’s have robust positions in the ethnic grocer space, and together can leverage best practices across their complementary go-to-market strategies, merchandising, customer
loyalty programs and more. This transaction will combine the best of both retailers and provide greater opportunities and scale for the respective brands and teams as they continue to bring quality, affordable groceries to diverse communities.”
In 2016, KKR acquired Cardenas Markets from the Cardenas family with the thesis of transforming the business into a growth platform. Under KKR’s ownership, Cardenas doubled in size through a combination of organic growth and strategic acquisitions.
Vishal Patel, a Managing Director at KKR, said: “We are immensely appreciative of everything Doug and the management team have done to build a great company dedicated to bringing fresh and affordable groceries to the communities that it serves, consistent with the values that the Cardenas family instilled
in the business. We are confident that Apollo and Tony’s Fresh Market are the right partners for Cardenas as it enters its next chapter of growth.”
The transaction is subject to customary closing conditions and is expected to be completed by Q3 2022. Financial terms of the transaction were not disclosed.
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Solomon Partners acted as lead financial advisor to Cardenas Markets and KKR. BMO Capital Markets also advised, and Kirkland & Ellis LLP served as legal advisor to Cardenas Markets and KKR. Credit Suisse, Wells Fargo and Rabobank have provided committed debt financing for the transaction.
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2022, Apollo had approximately $513 billion of assets under management. To learn more, please visit www.apollo.com.
About Cardenas Markets, LLC
Cardenas Markets is headquartered in Ontario, CA, and currently operates a total of 51 stores under the Cardenas Markets banner, 7 stores under the Los Altos Ranch Markets banner and 1 store under Cardenas Ranch Markets banner. Today, Cardenas Markets is one of the largest Hispanic grocery chains in the country with stores in California, Nevada, and Arizona. For more information visit cardenasmarkets.com.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in
its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial
Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
Cardenas Markets Loteria® Scratcher Sweepstakes is Back!
Ontario, California (April 20, 2022) – Cardenas Markets is excited to announce that Cardenas Markets Loteria® Scratcher Sweepstakes is back, and this year the company is giving away more than $850,000 in prizes, which reflects a $100,000 increase from last year’s program!
The sweepstakes program will take place from April 20, 2022, through June 14, 2022, in all 59 Cardenas Markets locations.
“Everyday our warm and friendly Team Members bring families and communities together by consistently providing the freshest products and most authentic offerings that celebrate life, family and culture,” said Adam Salgado Cardenas Markets Chief Marketing Officer. “Part of being Always Fresh and Always Authentic also means bringing relevant and fun promotions to our customers. Loteria, aka Mexican Bingo is the epitome of cultural authenticity, and we are excited to bring such an iconic game back in a bigger and bolder way,” Salgado added.
Through the purchase of participating products customers will receive one (1) Cardenas Markets Lotería Scratcher card with a code for a Free Digital Scratcher*.
Digital scratchers can be accessed by visiting cardenasmarkets.com/loteria, and registering the unique code found on the scratcher for a chance to win prizes such as an Apple Watch, Apple AirPods Pro, a $200 Cardenas Gift Card, or home electronic items! Participants may even have the opportunity to play in the Cardenas Markets Lotería semi-final game for a chance to win free Groceries for a Year or a grand prize $50,000. Sweepstakes participants have a 1 in 5 chance to win great instant-win prizes such as delicious food from Cardenas Markets Cocina and Panaderia.
Darla Sebastian Promoted to Vice President of Special Projects
Ontario, California (March 8, 2022) – Cardenas Markets is pleased to announce the promotion of Darla Sebastian to the position of Vice President of Special Projects.
In this position Sebastian will report directly to Prabash Coswatte, Chief Operating Officer for Cardenas Markets, and will drive, facilitate, and oversee the implementation of the company’s key strategic endeavors and priority initiatives.
“Darla brings extensive project management and retail experience to her new position,” Coswatte said. “She is a strong and highly accomplished leader who has a reputation for transforming strategic vision into reality, and in her new role I am confident she will continue to play a vital role in enhancing current business operations while providing concrete solutions that will guide and bring future endeavors to fruition,” he added.
Sebastian joined Cardenas Markets in 2019 bringing over 20 years of experience in retail management with focus on eCommerce, Supply Chain, Finance Operations and Store Systems.
Prior to joining Cardenas Markets, Sebastian served as Director of IT at Monoprice, Inc., an online electronic retailer, where she was accountable for all IT functions. Sebastian also worked as a Senior Project Manager Consultant for Smart Code LLC where managed multiple projects from initiation to completion for major clients including a major Southern California supermarket chain. She also served as Senior Delivery Manager and Senior Project Manager for a prominent deep-discount retailer.
Sebastian holds a Bachelor of Science in Business Management int addition to a Bachelor of Arts in Psychology. She has also been certified as a Project Management Professional (PMP).
We’ve Expanded On-Demand Grocery Delivery with Uber
Ontario, California (March 1, 2022) – Cardenas Markets is pleased to announce it has expanded its partnership with Uber Technologies, Inc. (NYSE: UBER) to now offer on-demand and scheduled grocery delivery across all the company’s 59 locations.
In addition to ordering authentic Hispanic dishes prepared daily by the company’s famous Cocinas, customers can now conveniently shop for their everyday grocery staples and have them delivered, on-demand, directly to their door through Uber Eats.
“Our partnership with Uber Eats demonstrates Cardenas Markets robust e-commerce expansion efforts,” stated Adam Salgado, Chief Marketing Officer for Cardenas Markets. “We are consistently looking for ways to make the Cardenas Markets shopping experience even more convenient and accessible for our customers,” Salgado added.
“As we continue to expand our Grocery category throughout the US, it’s essential we provide customers with variety and selection from a diverse range of merchants in their areas,” said Oskar Hjertonsson, Head of Grocery at Uber. “We’re happy to expand our partnership with Cardenas Markets to bring high-quality Hispanic dishes and everyday grocery essentials on-demand and right to our customer’s doorsteps.”
Click here for information on how to leverage Uber for on-demand grocery delivery.
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 15 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
EBT SNAP Payments Now Available Via Instacart
Ontario, California (February 24, 2022) – Cardenas Markets, one of the largest Hispanic grocery chains in the country is pleased to announce that the company’s online storefront will accept Electronic Benefits Transfer and Supplemental Nutrition Assistance Program (EBT SNAP) payments via Instacart, the leading online grocery platform in North America.
Cardenas Markets is the first Hispanic retailer to accept EBT SNAP Payment via Instacart.
“We are proud to be the first Hispanic retailer to accept EBT SNAP as a form of online payment via Instacart,” said Adam Salgado, Chief Marketing Officer at Cardenas Markets. “We are consistently looking for ways to make the Cardenas Markets shopping experience even more convenient and accessible for all of our customers,” he further noted.
“At Instacart, providing people greater access to food is at the core of our mission, and we’re proud to deepen our partnership with Cardenas Markets to provide more families a convenient, accessible way to get their fresh food and pantry staples,” said Sarah Mastrorocco, Vice President of Access to Food & Nutrition at Instacart. “We believe that grocery delivery should be convenient and affordable for all, not a luxury for some. To get there, we need to make sure online grocery is accessible to everyone. We recognize the importance of expanding our EBT SNAP offering, and partnering with key Latin grocer Cardenas Markets is an important milestone as we continue to increase access to food and nutrition,” Mastrorocco added.
For more information about EBT SNAP on Instacart, visit www.instacart.com/ebt-snap. To place an order from Cardenas Markets for same-day delivery and pickup, visit https://www.instacart.com/cardenas-marketplace.
Instacart is the leading online grocery platform in North America. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with more than 700 beloved national, regional and local retailers, including unique brand names, to deliver from more than 65,000 stores across more than 5,500 cities in North America. Instacart’s platform is available to over 85% of U.S. households and 90% of Canadian households. The company’s cutting-edge enterprise technology also powers the ecommerce platforms of some of the world’s biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership that includes reduced service fees and unlimited free delivery on orders over $35. For more information, visit www.instacart.com. For anyone interested in becoming an Instacart shopper, visit https://shoppers.instacart.com/.
Cardenas Markets Celebrates Supermarket Employee Day
Ontario, California (February 22, 2022) – Cardenas Markets is pleased to join supermarkets and food suppliers nationwide to celebrate Supermarket Employee Day.
The Food Marketing Institute (FMI) has proclaimed Feb. 22, 2022, Supermarket Employee Day. This is a time for the food industry to recognize employees at every level of the industry for the work they do in sustaining local communities, feeding families, and enriching lives.
“To recognize our Team Members for their commitment to our customers and our local communities, Cardenas Markets will provide lunch to every Team Member across our geographical footprint,” said Prabash Coswatte, Cardenas Markets Chief Operating Officer. “We are grateful and appreciative of their hard work and dedication to Cardenas Markets and the food industry,” he added.
Cardenas Markets invites customers to visit its stores on Feb. 22, 2022, to thank its hardworking Team Members. The company also invites customers to honor their favorite Cardenas Markets Team Members on social media and use the hashtags, #SupermarketEmployeeDay and #SupermarketHeroes.
In addition, Cardenas Markets will also highlight several employees from various areas of the company on its Facebook and Instagram profiles. Click here for more information regarding Cardenas Markets Supermarket Employee Day efforts.
Veronica Jiménez Promoted to VP of Real Estate & Construction
Ontario, California (January 4, 2022) – Cardenas Markets is pleased to announce the promotion of Veronica Jimenez to the position of Vice President of Real Estate & Construction.
In this position Jimenez will report directly to Prabash Coswatte, Chief Operating Officer for Cardenas Markets, and will oversee the day-to-day operations of the company’s real estate, construction, and maintenance departments.
“Veronica possesses an in-depth understanding of commercial real estate and construction in addition to a unique ability to provide architectural support and interior design expertise,” said Coswatte. “She is an exceptional and dynamic leader dedicated to growing the next generation of Cardenas Markets,” Coswatte added.
Jimenez joined Cardenas Markets as a consultant in 2019 and was named Director of Construction in 2021.
Prior to joining Cardenas Markets, Jimenez served as president of VJ Casa, a boutique Interior Design and Architectural firm focused on commercial spaces both nationally and internationally. In this capacity she provided interior design and architectural support for two major Southern California supermarket chains. She also served as Director of Design for HPA Architecture, and Senior Project Designer for Del Mar Lighting and Architectural Design in Downey CA.
Jimenez attended Brooks College where she received a degree in Interior Design and Architecture.