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,
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,
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.
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