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KKR, Victory Park Capital Buy Hispanic Grocers

Ontario, CA-based Cardenas Markets was acquired by New York-based KKR and Chicago-based Victory Park Capital. The investment is expected to lead to expansion into communities not currently served by Cardenas, as well as additional hiring.

The investment partnership also bought San Jose-based Mi Pueblo grocery chain, though retail industry analysts expect the brands to remain separate for the time being. It is undetermined if the deal is a strategic financial play providing entry into the Hispanic supermarket business, or a real estate play given the number of store locations.

Cardenas operates 33 stores throughout SoCal and Las Vegas, employing roughly 3,000 people. The first Cardenas Market opened in Ontario in 1981. Mi Pueblo operates 19 stores.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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