Two retailers with roots in Southern California have partnered to acquire Pro’s Ranch Markets out of bankruptcy.
Northgate Gonzalez market and Cardenas Markets formed Cardenas Northgate Group Ranch to acquire and operate Pro’s Ranch Markets to the tune of $55 million.
Pro’s Ranch Markets has seven store locations dispersed throughout Arizona, Mexico and Texas. The company filed for bankruptcy last May. Pro’s Ranch had roughly $350 million in sales during 2013.
The newfound CNG Ranch will take over use of Pro’s Ranch’s corporate headquarters along with a 151,000-square foot warehouse in Phoenix. Northgate’s team will lead the combined company’s management and daily operations, under the supervision of the CNG Ranch’s board of directors. The board is comprised of members from Cardenas and Northgate.