Fresh Market sold for $1.36-billion
By Canadian Packaging staffGeneral Apollo Global Management grocery chain acquisition The Fresh Market
Apollo Global Management is new owner, in deal expected to close Q2 2016.
Known as a global investment firm with controlled assets of US$170-billion, the New York-based Apollo Global Management has acquired The Fresh Market, a grocery chain headquartered in Greensboro, North Carolina for US$1.36-billion.
Opening its doors in 1982, The Fresh Market now has 168 stores across 27 U.S. States—strongest in the southeast and mid-Atlantic—providing fresh, local ingredients in small stores similar to a European style, with warm lighting, classical music and old-world charm (see photo of a store above).
Fresh Market has over 13,000 employees.
The deal is expected to close in Q2 2016.