The Hardest-Working Paper in America | 
Friday, April 19, 2024
News Business

Fresh Market to be bought by Apollo for more than $1.3B

By  Associated Press
   
SHARE Fresh Market to be bought by Apollo for more than $1.3B
the_fresh_market_apol_newm_1.jpg

The Fresh Market, a grocery store chain, has agreed to be acquired by private equity firm Apollo for more than $1.3 billion. | AP file photo

NEW YORK — The Fresh Market, a grocery store chain, has agreed to be acquired by private equity firm Apollo for more than $1.3 billion.

The deal, which is expected to close in the second quarter, comes after Fresh Market said in October that it was seeking to possibly sell itself. Fresh Market has seven stories in the north and northwest suburbs.

Apollo said Monday that it is paying $28.50 for each share of Fresh Market, a 24 percent premium of the stock’s closing price of $22.98 on Friday.

Fresh Market, based in Greensboro, North Carolina, has nearly 190 stores around the country. Apollo’s holdings include Twinkie maker Hostess and the Chuck E. Cheese restaurants. Apollo is based in New York.

Shares of The Fresh Market Inc. soared $5.47, or almost 24 percent, to $28.45 in midday trading Monday while Apollo Global Management LLC Class A shares edged up 6 cents to $16.97.

Next Up In News
Netflix looks to curb password sharing, considers ads
Aiming to predict COVID, future pandemics better, CDC opens infectious diseases forecasting center
Joliet farmers wrangle cows thrown from semitrailer after crash on Interstate 80
1 killed, 3 wounded in shootings Tuesday in Chicago
Obama relatives sue Milwaukee school alleging racial bias
Unmasked transit: Pritzker ends mask mandates in public transportation, airports
The Latest
REDLINE-080322-11.jpg
Chicago’s Next Voices
From Archer Heights to downtown Chicago, Chicago's Next Voices columnist climbed that steep ladder
Southwest Side native Valery Pineda writes of how she never thought the doors of the downtown skyscrapers would be open to her — and how she got there and found her career.
By Valery Pineda
 
The Rev. Mark Santo, shown at St. Philip High School in Chicago in the 1960s.
The Watchdogs
Catholic priest accused of sex abuse served in 9 church jurisdictions, including Chicago. So why is he on just one abuser list?
The Catholic church’s transparency on accusations of sexual abuse by clergy members, including the Rev. Mark Santo, remains inconsistent and lacking across the United States, clouding the extent of the crisis more than 20 years after it exploded into view.
By Robert Herguth
 
The Watchdogs
CTA touts ‘Second Chance’ program for ex-offenders, but few end up with permanent jobs
About 14% of those in the apprenticeship program found permanent full-time employment with the transit agency, a Sun-Times investigation found. Others, some strung along for years, remained in low-paying roles with no benefits.
By Lauren FitzPatrick and Frank Main
 
Wanda Jemison, who has worked at Conn-Selmer for 18 years, soders a complete Vincent Bach trumpet by hand at the factory in Elkhart, Indiana Wednesday, March 27, 2024. | Ashlee Rezin/Sun-Times
Columnists
Look inside the Indiana company trying to re-create the world's best trumpets
Chicago Symphony Orchestra musicians help Conn-Selmer’s quest for the perfect instrument.
By Neil Steinberg
 
Chicagonolimitsfishingboat.jpg
Outdoors
Chicago No Limits Fishing opens fishing and boating for people with disabilities
Chicago No Limits Fishing gives people with disabilities the ability to experience boating and fishing around downtown on Lake Michigan and the Chicago River.
By Dale Bowman