South American Retailer Acquires Majority Stake In The Fresh Market

South American Retailer Acquires Majority Stake In The Fresh Market

South American Retailer Acquires Majority Stake In The Fresh Market
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Retail Bum

Retail Bum

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South American retailer Cencosud has struck a deal with Apollo to acquire a 67% stake in specialty grocer, The Fresh Market for $675 million.

The deal between Cencosud and The Fresh Market’s parent company, Apollo, will add 160 U.S. stores to the company’s expansive portfolio of retail properties, including 915 supermarket stores, 108 home improvement stores, 67 shopping centers and malls, and 49 department stores in Latin America.

“Cencosud has demonstrated that it is a world-class retailer with exceptional margins, and we look forward to sharing best practices across our businesses,” said Jason Potter, Fresh Market CEO. “The Fresh Market has experienced strong financial momentum over the last few years and this partnership with Cencosud will allow the company to further capture market share as we expand our footprint in our core Southeast market and beyond.”

“[It is] widely recognized by market specialists and customers alike for its customer-centric culture, excellence in fresh produce and memorable shopping experience in its stores,” Apollo Partner Andrew Jhawar said.

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