Newspaper article International New York Times

Private Equity Firm to Buy Grocer

Newspaper article International New York Times

Private Equity Firm to Buy Grocer

Article excerpt

The $1.36 billion deal for the specialty grocer includes a separate investment from George Golleher, the former chief executive of Smart & Final stores.

The gourmet grocery chain Fresh Market has agreed to a $1.36 billion takeover by Apollo Global Management, ending a six-month strategic review with a deal that is a 24 percent premium to the chain's closing stock price on Friday.

Ray Berry, Fresh Market's founder, and his son Brett Berry, who collectively own 9.8 percent of the shares, won't sell any of their stock in the deal but will instead roll their investment into the Apollo funds. The deal, announced on Monday, includes an investment from George G. Golleher, the former chief executive of Smart & Final and Ralphs Grocery Company/Food-4-Less. …

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