The Fresh Market Enters Acquisition Agreement with Apollo Global Management
The $28.50-per-share all-cash offer follows a review of strategic alternatives undertaken by the retailer’s board of directors. The transaction was unanimously approved by the retailer’s board, other than chairman and founder Ray Berry, who recused himself from all board discussions related to the review and from the vote approving the transaction. Earlier this year, reports indicated that Kroger was poised to acquire The Fresh Market, which operates 183 stores in 27 states. The deal is anticipated to close in the second quarter of 2016.