• Tue. Feb 7th, 2023

Apollo-backed supermarket Fresh Market Holdings withdraws initial public offering

Byanna

Jul 13, 2022 , ,
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The Fresh Market Holdings Inc. said in a filing published Wednesday it’s withdrawing its initial public offering. The Greensboro, N.C.-based supermarket chain did not provide a reason for the move, but it said it does not intend to pursue the IPO at this time. The company is controlled by Apollo Global Management Inc.
APO,
-0.81%
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On May 11, Fresh Market said it agreed to sell a 67% stake in itself for $676 million to Chile-based retailer Cencosud SA
CENCOSUD,
+1.22%

in a deal that values the company at nearly $1.6 billion. Apollo will retain a minority stake in the company. Fresh Market Holdings reported net income of $26.9 million and sales of $1.89 billion in the year ended Jan. 31, 2021, compared to a loss of $65.4 million and sales of $1.52 billion in the year ended Jan. 26, 2020.



Image and article originally from www.marketwatch.com. Read the original article here.