Tony's Fresh Market is a family-owned and operated grocery chain in the Chicagoland area. Apollo also hopes to achieve "strong organic growth" through its management of Tony's, Andrew Jhawar, another partner in the firm, said in the announcement, pointing to the grocer's loyalty programs and e-commerce operations as areas where it intends to invest. The transaction is expected to close by mid-July. Apollo Global Management, Inc. Tony continued the business formally establishing Tony's Seafood after his father's passing 1947. Well, that's exactly what you'll see when you walk into this Oxford home that is currently on the market for $1,399,000. Tony and Frank Ingraffia as well as some other family members will have a significant equity investment in the company, Jhawar said, though he declined to disclose their share. We are focused on tackling the persistent challenge of access to healthy and affordable food, particularly in underserved communities, explained Joanna Reiss, an Apollo partner who helps lead impact investment for that company. Tony's Pizza. Tony's Fresh Market same-day delivery in as fast as 1 hour with Instacart. View All . The transaction continues a trend that has seen several other regional grocery companies change hands or merge recently. Can't find an item? This is not Apollos first foray into grocery sector investments. My family has been feeding our communities for generations and are incredibly excited to partner with Apollo to build upon that legacy of fresh and healthy food, at an affordable price and delivered with respect to the many cultures of our customers, Tonys Fresh Market CEO Frank Ingraffia, the son of co-founder Tony Ingraffia, said in a statement. Lines and paragraphs break automatically. Skip Navigation All stores. [11], In May 2022 the Chilean retail company Cencosud acquired 67% stake in Fresh Market. We are immensely appreciative of everything Doug and the management team have done to build a great company dedicated to bringing fresh and affordable groceries to the communities that it serves, consistent with the values that the Cardenas family instilled in the business, stated Vishal Patel, a managing director at KKR. Tony's Fresh Market is a family owned and operated supermarket chain. 9h Add some zest to National Margarita Day (Feb 22nd) with this The stock has a 50 day simple moving average of $30.62 and a 200-day simple moving average of $29.17. Plans call for Cardenas and Tonys to continue to operate under their current brands and local leadership. The sale of Tony's to Apollo marks the end of an era for the grocery chain, which was started in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino and has been family run since its inception. [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. We've been delivering a fresh take on grocery shopping for more than 35 years. We are excited to once again partner with Doug following our highly successful investment in Sprouts Farmers Market, which Doug led as CEO under Apollo funds ownership. In 2020, Apollo acquired convertible preferred shares in Albertsons representing a 17.5% stake in the company. [8], When a hazelnut milk chocolate bar was added to the lineup in 2010, Dutch TV show Een Vandaag reported that 9-year-old children participated in the Turkish hazelnut harvest. The Fresh Market then became a privately held company and its stock was delisted on NASDAQ. Kroger and Albertsons merger: What lies ahead? That mortgage represented two loans, one of them a capital loan of $37.8 million. Tony says the secret ingredient in his sausage is love - and from the . Frank Ingraffia told the Tribune that Tonys has three new stores planned, including locations in Chicago, Joliet and Schaumburg, Ill. For the acquisition, Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel for the Apollo fund affiliates, while Stout Capital, LLC acted as financial adviser and McDermott Will & Emery LLP as legal counsel for Tonys Fresh Market. Registered in England and Wales. The acquisition by Apollo Global Management builds on its grocery investments nationally and locally. As ofDecember 31, 2021, Apollo had approximately$498 billionassets under management. 1 spot in ranking of America's best supermarkets", "Fresh Market closing all 3 Sacramento-area stores - Business - the Sacramento Bee", Rice Epicurean to close four stores to make way for The Fresh Market, "The Fresh Market announces closure of 13 locations across the U.S., including four in Houston", "Report: Fresh Market raises $290 million at IPO", "Certain Funds Affiliated with Apollo Global Management Announce Completion of the Acquisition of The Fresh Market, Inc", "Fresh Market Is Getting Ready for When the IPO Market Opens", "Chilean retail group acquires majority stake in The Fresh Market", "Federal Court Rules in Favor of Marsh in Trademark Dispute", https://en.wikipedia.org/w/index.php?title=The_Fresh_Market&oldid=1123453578, This page was last edited on 23 November 2022, at 20:48. Our customers and our employees are the livelihood of this organization and without the support of our customers and the hard work and dedication of our employees, we would not be where we are today. Our readers also recommended the Nonna Urbriaca, a traditional pan-baked, thin-crust square pie topped with fresh mozzarella, basil, vodka sauce and olive oil ($20.95). I'm looking for anyone who has bought befor/owns an NFT to talk with! . NEW YORK (Reuters) - Fresh Market Inc TFM.O has signed a deal to be acquired by Apollo Global Management LLC APO.N for about $1.36 billion in cash, as the moribund U.S. specialty grocery. We specialize in produce, meat, deli and bakery depts, while still carrying a wide assortment of grocery, dairy, frozen. Situated right on the Pacific Ocean, Tony's offers breathtaking views and a whole lot more. Apollo private equity has an extensive best-in-class track record of success in food retail, and I am thrilled to partner with Andy Jhawar and the Apollo team again in this exciting next chapter for Cardenas, he added. Apollo representatives said customers can expect expansion, but declined to comment on the number of potential new stores or where they would be located. 3 were here. Having spent more than 20 years leading Apollos private equity investments in grocery and retail, I firmly believe the business is poised for strong organic growth, and together we see additional opportunities to support Tonys through go-to-market execution, customer loyalty programs, e-commerce and more. October 12, 2021 "Windy City Live" visits Valli for great Game Day Recipes! Although food retailers got a major sales boost from the pandemic, they still face considerable competition from larger chains and pressure to invest more in digital operations. Hispanic and specialty grocers to form leading multi-ethnic food retailer, Growth stands out for Sprouts Farmers Market in Q4, FY 2022, Ahoid Delhaize saves its customers, invests more in digital in 2022, Costco a victim of inflation after mixed Q2 report, Dollar Tree fined over $250K for safety violations, 2023 Informa USA, Inc., All rights reserved, Walmart Health plans to double in size in 2024, Publix caps year of new territory with sound Q4 results, Afresh expands into meat, seafood, deli, and foodservice, Hy-Vee Inc. to pay penalty for violating EPA pesticide order. It just felt like we needed and wanted a partner that can help us get to the next level, said Frank Ingraffia, the CEO of Tonys and Tony Ingraffias son. Apollos supermarket investments over the years have included Albertsons Cos., The Fresh Market, Sprouts Farmers Market and Smart & Final, among others. Podcast: Whats everyone talking about at NGA? Chicago-area specialty grocer Tonys Fresh Market has been acquired by affiliates of investment firm Apollo Global Management. Tony's Chocolonely is a Dutch confectionery company founded in 2005, which produces and sells chocolate. IG Riverside LLC bought the North Riverside Park Plaza in September 2007 for $21,750,000 and took out a $17,400,000 mortgage to finance the purchase. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. The founder of the company was Tony Ingraffia and Domenico Gambino in 1979. October 07, 2020. Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to. ", "Ben & Jerry's and TONY'S Chocolonley: Chocolately Love A-Fair", "Ben & Jerry's suppliers using child labor despite 'progressive' values", "Tony's Chocolonely tries to prove that ethical chocolate and sweet profits can co-exist", https://en.wikipedia.org/w/index.php?title=Tony%27s_Chocolonely&oldid=1142399058, Certified B Corporations in the Food & Beverage Industry, Articles with a promotional tone from June 2020, Articles needing additional references from July 2016, All articles needing additional references, Articles with multiple maintenance issues, Articles containing potentially dated statements from 2020, All articles containing potentially dated statements, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, Seasonal items (including holiday bars and chocolate, This page was last edited on 2 March 2023, at 04:56. Jhawar told the Chicago Tribune that Tony Ingraffia will be a shareholder and board member, and that Tony and Frank Ingraffia and some other family members will have a significant equity investment in the company. Welcome to our new page Lofaro's Fresh Market formally Great Lakes Fresh Market! We like to think that each and every vendor, employee, and customer that walks through our doors becomes part of the Tonys family. As of 2020[update], it has become more widely available in leading food stores such as Supervalu. North Riverside Village Administrator Sue Scarpiniti said she had reached out to her contacts at Tonys Fresh Market about the future of the North Riverside property to no avail. Apollo Global Management, Inc. NEW YORK and CHICAGO, April 20, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that funds managed by its affiliates (the Apollo Funds) have acquired Tonys Fresh Market (Tonys), a leading Chicago-based grocery retailer. [10], In March 2022, Fresh Market filed an updated prospectus for its initial public offering, signaling the companies intent to return to a public company. The business has been family-owned and operated since its founding more than 40 years ago, and the founding family will partner with Apollo, both in management roles and as shareholders going forward. [8], After increasing the price of its initial public offering from $1820 to $22, Fresh Market raised $290 million, and on November 5, 2010, began trading on Nasdaq using the symbol TFM. To learn more about Tony's Charitable Foundation, our events, and ways to give back, please visit our. Lines and paragraphs break automatically. Tony's Fresh Market has been acquired by New York private-equity company Apollo Global Management. | Source: In 2005, the company lost a trademark dispute with "Marsh Supermarkets" relating to the 'Fresh Market' trademark. [16], Last edited on 23 November 2022, at 20:48, "Fresh Market earns No. Let us know! Webinar [4] The Berrys' idea was to develop a better grocery store that brought back the feeling of open European-style markets. Tony's plays an important role in the local economy . We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.. Who Are We ? NBCUniversal owns and operates a valuable portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks, and a premium ad-supported streaming service. The transaction between Tony's and Apollo follows on the heels of the. Apollo reported that several more stores are now in development. The brand was called "Chocolonely" in reference to Van de Keuken feeling as if he was the only person in the industry who was interested in eradicating slavery.