Apollo Funds to Acquire Cardenas Markets from KKR and Combine with Tony's Fresh Market
June 13, 2022
Funds managed by Apollo (Apollo Funds) agreed to acquire Cardenas Markets from investment funds affiliated with KKR and will combine Cardenas with Apollo portfolio company Tony's Fresh Market to create a leading Hispanic- and ethnic-focused grocer. The combined business will operate across California, Nevada, Arizona and the Midwest with nearly 80 stores and approximately $1.8 billion in combined revenues; financial terms were not disclosed.
- Buyers
- Apollo Funds (funds managed by affiliates of Apollo Global Management)
- Targets
- Cardenas Markets
- Sellers
- KKR (investment funds affiliated with KKR)
- Platforms
- Tony's Fresh Market
- Industry
- Retail
- Location
- California, United States
- Transaction Type
- Addon
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