Fresh Market Sells To Apollo Global for $1.36B

By  |  March 14, 2016
 | 

Fresh Market, a specialty grocery outfit, has agreed to be acquired by Apollo Global Management in a $1.36 billion cash deal.  That represents an offer of $28.50 per share, a 24 percent premium when stacked against Fresh Market’s closing price Friday afternoon.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Advertisement: Scroll to Continue

    The board unanimously approved the deal, except for one rather high profile missing piece: chairman and founder Ray Berry. Berry did not vote against the deal, instead he had recused himself from all discussions of the potential sale and from voting on the transaction itself.

    There were rumors that Berry was considering to take the firm private himself, though those appear to have come to nothing. Berry and his son Brett together own about 9.8 percent of Fresh Market’s outstanding shares.

    The deal that has fully committed financing in place is expected to close in the second quarter of 2016.


    Recommended

    Revolut Drops US Bank Buyout Plan, Eyes Standalone OCC Charter

    Gen X Spending Patterns Are Shifting as Costs Rise

    SMBs-credit-cards-lending

    Eight in 10 Small Businesses Want Credit and on Their Terms

    Labor Economy workers entered 2026 focused on holding on rather than getting ahead, as wage volatility and debt threaten stability.

    December Labor Economy Wage Gains Could Add $32 Billion to GDP, Even as Worker Confidence Lags

    See More In: ,