Apollo-backed Tony’s Fresh Market to acquire Cardenas Markets from KKR.

Apollo-backed Tony’s Fresh Market, a grocery chain operator, agreed to acquire Cardenas Markets, a grocery retailer focused on serving the Hispanic community, from KKR. Financial terms were not disclosed. “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, Cardenas CEO.