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

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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