We Accept We are a proud Illinois produce distributor Apollo announced its acquisition of Itasca, Ill.-based Tonys Fresh Market in April. In 2021, Apollo signaled it would seek to take The Fresh Market public once again, although that has not yet transpired. [20] The company also produces limited edition 'relay' bars for the supermarket chain Albert Heijn, with exclusive flavors corresponding to winter and summer tastes. March 1, 2023. Other recent deals involving regional grocers include the acquisition by Raley's of Arizona chain Bashas' and the merger of Northeastern grocers Price Chopper/Market 32 and Tops Markets, both of which occurred last year. Frank Ingraffia, a member of the founding family and Tonys CEO, said that the move came at the a good time for the independent grocer. We think we have a good thing going here, and weve done well over the course of 43 years, but when you bring on a partner like Apollo it kind of takes you to the next level., Ingraffia, who began bagging groceries and pushing carts for the family business as a preteen, said Apollo would bring an improvement from the customers standpoint.. Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. Tony's, which carries an assortment that includes fresh produce, multicultural items and prepared foods, operates 18 stores in the Chicago area and plans to open several additional locations. Tyler Pasciak LaRiviere/Sun-Times A New York private equity firm said Wednesday it has acquired Tony's Fresh Market, a Chicago-area grocery chain with 18 stores. Tony's Fresh Market bought by private-equity firm - Crain's Chicago Together, Cardenas and Tonys generate revenue of about $1.8 billion from 78 stores in three Western states and the Chicago area, enabling them to benefit from greater scale and complementary capabilities in a larger operating footprint, Apollo noted. Apollo Funds Acquire Tony's Fresh Market, a Leading Chicago-Based Bachelor of Business Administration (B.B.A. Trio of executive entrepreneurs plan for 15-store expansion, Progressive Grocer celebrates forward-thinking indies in annual award program, This year's group of outstanding operators are on Progressive Grocer's radar for their way of innovating, differentiating and finding new approaches to serve their communities. Tony Ingraffia, the owner and president of Tony's Fresh Market, said the Prospect Heights store at 1241 N. Rand Road will represent the "lucky number 13" for the Itasca-based company,. The original location on Fullerton Avenue and Central Park, which still exists today, was opened with only five employees: one produce employee, two meat employees, one cashier, and Tony running around the store like a man on a mission. Apollo said Cardenas Markets CEO Doug Sanders will remain in that role and serve as chief executive of the combined company, while Frank Ingraffia will continue to serve as the CEO of Tonys Fresh Market. There was an error and we couldn't process your subscription. Fresh Market is your local neighborhood grocery store owned and operated by Associated Food Stores, a member-owned wholesale grocery distributor based in Salt Lake City, Utah. See if you qualify for a free subscription to our industry leading paper magazine. [17] The chocolate bars are unevenly divided, symbolizing the unequal distribution of incomes in the chocolate industry. As a part of our 40th Anniversary, we are very excited to announce Tony's Charitable Foundation. Can't find an item? Tony's Fresh Market - Apps on Google Play Launched in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, Tony's operates 19 specialty grocery stores across the Chicago market and neighboring communities in Illinois and is known for its wide assortment of fresh produce, prepared foods and multicultural offerings. Few points from the Tony's history: The family owned company operates grocery chains in the Chicagoland area. These two people were an italian immigrants who had a dream to begin a grocery business. [4] The Berrys' idea was to develop a better grocery store that brought back the feeling of open European-style markets. Some bars have entered the permanent collection from there. Chicago-area specialty grocer Tonys Fresh Market has been acquired by affiliates of investment firm Apollo Global Management. [23] This award recognizes companies and organizations who have set a high standard for eradicating slavery, illegal child labor, and human trafficking from their supply chains. I'm looking for anyone who has bought befor/owns an NFT to talk with! These flavors rotate every six months. Give Us Your Feedback! The 100 Best Superhero Movies of All Time - Paste $1.4M Luxurious Home in Oxford Has Dirt Bikes on Display Inside You don't build a business. 305 were here. Albertsons owns grocery chains including Safeway and Jewel-Osco. Let Grocery Dive's free newsletter keep you informed, straight from your inbox. Our staff are courteous and friendly and our restaurants are perfect for romantic or family dining. Widely recognized by market specialists and customers alike for its. The Fresh Market is an American chain of supermarkets based in Greensboro, North Carolina. In 2011, Henk Jan Beltman became a majority shareholder and moved the company to a new location near Westergasfabriek. Apollo reported that several more stores are now in development. In 1978 Tony's children Angelo and Nikki-Ann expanded the business opening a wholesale and retail operation in Seekonk, MA. About ApolloApollo is a high-growth, global alternative asset manager. The acquisition by Apollo Global Management builds on its grocery investments nationally and locally. Store Hours. Please reload the page and try again. This is not Apollos first foray into grocery sector investments. Tony's Chocolonely - Wikipedia In 2017, there were a series of financial moves, beginning with the original mortgage terminating that July and Tonys Finer Food Enterprises lending $10 million to IG Riverside LLC. [2] History [ edit] Plans call for Cardenas and Tonys to continue to operate under their current brands and local leadership. The firm, in Albertsons in 2020 and also made a significant investments in. The founder of the company was Tony Ingraffia and Domenico Gambino in 1979. According to Apollos announcement of the sale, members of Tonys founding family will partner as both shareholders and as management in the future. Rival chain Albertsons' use of a long-term lease option to keep the 65,000-square-foot building vacant delayed Tony's Fresh Market's use of its own purchased property for six years before it could . Number 8860726. Plans call for Cardenas Chairman and CEO Doug Sanders to serve as chief executive of the combined company. Registered in England and Wales. The transaction continues a trend that has seen several other regional grocery companies change hands or merge recently. Tony's Fresh Market - LinkedIn Web page addresses and e-mail addresses turn into links automatically. NEW YORK (Reuters) - Fresh Market Inc TFM.O has signed a deal to be acquired by Apollo Global Management LLC APO.N for about $1.36 billion in cash, as the moribund U.S. specialty grocery. Home - Tony's Fresh Market Tony's Fresh Market same-day delivery in as fast as 1 hour with Instacart. Jersey Shore pizza: Favorite neighborhood spots to try Realizing Baton Rougean's love for fresh seafood, Tony added crawfish, shrimp and crabs to his selection of produce. Welcome to our new page Lofaro's Fresh Market formally Great Lakes Fresh Market! We are immensely appreciative of everything Doug and the management team have done to build a great company dedicated to bringing fresh and affordable groceries to the communities that it serves, consistent with the values that the Cardenas family instilled in the business, stated Vishal Patel, a managing director at KKR. Terms of the deal werent announced. As of 2021, Apollo had about $498 billion assets under management. Enter the email address you signed up with and we'll email you a reset link. We seek to provide our clients excess return at every point along the risk-reward spectrum from Investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. I first met Doug nearly 17 years ago, when he was with Sprouts, which was at that time a small, growing specialty grocer with just a few stores in Phoenix, Moses said. The acquisition by Apollo Global Management builds on its grocery investments nationally and locally. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Tony's Delicatessen & Fresh Meats | Williamsport PA - Facebook We havent been able to get any type of response., Unclear whether sale includes companys North Riverside shopping center. October 12, 2021 "Windy City Live" visits Valli for great Game Day Recipes! Apollo Global Management did not respond to an email from the Landmark about any potential consolidation of operations or about the North Riverside Park Plaza. Tony's Fine Foods will serve as our platform for building . Apollo Funds Acquire Tony's Fresh Market, a Leading Chicago-Based Valli featured on The Rachael Ray Show! We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Together, Cardenas and Tonys will create a supermarket retailer with annual sales of approximately $1.8 billion from 78 stores in three Western states and the Chicago area. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. [15], In 2017 the company's name The Fresh Market was trademarked by the U.S. Patent and Trademark Office. 50th Anniversary - February 2020 | Pete's Market - Pete's Fresh Were trying to find out about that as well, Scarpiniti said. Noah GunnGlobal Head of Investor RelationsApollo Global Management, Inc.(212) 822-0540IR@apollo.com, Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.(212) 822-0491Communications@apollo.com. Together, as two of the highest-quality Hispanic and ethnic grocers, we can deliver even greater value to the communities we serve, commented Sanders, who also serves as Cardenas chairman. 1 spot in ranking of America's best supermarkets", "Fresh Market closing all 3 Sacramento-area stores - Business - the Sacramento Bee", Rice Epicurean to close four stores to make way for The Fresh Market, "The Fresh Market announces closure of 13 locations across the U.S., including four in Houston", "Report: Fresh Market raises $290 million at IPO", "Certain Funds Affiliated with Apollo Global Management Announce Completion of the Acquisition of The Fresh Market, Inc", "Fresh Market Is Getting Ready for When the IPO Market Opens", "Chilean retail group acquires majority stake in The Fresh Market", "Federal Court Rules in Favor of Marsh in Trademark Dispute", https://en.wikipedia.org/w/index.php?title=The_Fresh_Market&oldid=1123453578, This page was last edited on 23 November 2022, at 20:48. It's not every day that you walk into someone's home only to find killer dirt bikes on display right the in the living room. Tony's was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. Scott Pilgrim vs. the World (2010) Edgar Wright's energetic adaptation of Bryan Lee O'Malley's hit indie comic book has its detractors. Supermarket News is part of the Informa Connect Division of Informa PLC. Apollo Funds Acquire Tony's Fresh Market, a Leading My family has been feeding our communities for generations and [is] incredibly excited to partner with Apollo to build upon that legacy of fresh and healthy food, at an affordable price and delivered with respect to the many cultures of our customers, noted Ingraffia. Tony's Meats & Market needs energetic and motivated team members willing to work hard and have fun while helping our customers live happy and fulfilled lives. " See More Recipes About Us Departments Weekly Ads Catering Recipes Contact Us Address: 2701 W. North Ave. Chicago, IL 60647 Hours of Operation: 7am - 9pm (7 days a week) Get Social 773-278-4447 NOW HIRING! Carlos Souffront, Cheese Specialist, Tony's Fine Foods. [5] North Riverside Village Administrator Sue Scarpiniti said she had reached out to her contacts at Tonys Fresh Market about the future of the North Riverside property to no avail. The Long Dumb Road [DVD] - amazon.com [6], In 2012, Fresh Market acquired and remodeled four locations of longtime family-owned Houston grocer Rice Epicurean Markets. Tony Pizzolato, father of Bill and his five siblings who own Tony's Seafood, opened a wholesale produce and fruit stand on Plank Road in 1959, according to an Advocate obituary of Pizzolato. In 2011, the firm invested $200 million in a San Diego-based chain called Sprouts and consolidated it with another San Diego chain called Henrys Farmers Market, which was a subsidiary of another Apollo purchase, Smart & Final.