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South American retailer Cencosud buys majority stake in Apollo-backed Fresh Market Holdings

38981 south american retailer cencosud buys majority stake in apollo backed fresh market holdings

The Fresh Market Holdings said Wednesday that South American retailer Cencosud agreed to invest $676 million for a 67% ownership position in the Greensboro, N.C.-based, 160-store supermarket chain in 22 states. The Berry family, management and Apollo Global Management Inc. APO, +3.12% will retain a minority position in Fresh Market, which generated $1.93 billion in revenue in 2021. Shares of Apollo rose 3.2%, compared to a loss of 0.1% by the S&P 500 SPX, -0.39%.

Source: Marketwatch

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