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Cardenas Markets, a leading grocery retailer focused on serving the Hispanic community, has been acquired by Apollo Global Management. Upon completion of the transaction, Apollo 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 benefiting from greater scale, complementary capabilities and an expanded operating footprint.

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