. The founder of the company was Tony Ingraffia and Domenico Gambino in 1979. The transaction is expected to be finalized by the third quarter, pending customary closing conditions, according to Apollo. The current CEO, Daniel, started working at his Dad's Market at the age of 13. [10], In March 2022, Fresh Market filed an updated prospectus for its initial public offering, signaling the companies intent to return to a public company. [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. Tony's Chocolonely is a Dutch confectionery company founded in 2005, which produces and sells chocolate. For better or worse. With our investment in Tonys, we are proud to support a high-performing company that is increasing access to quality, affordable groceries in a broad swath of neighborhoods as well as donating to local food banks to fight hunger. Valli featured on The Rachael Ray Show! October 07, 2020. Our readers also recommended the Nonna Urbriaca, a traditional pan-baked, thin-crust square pie topped with fresh mozzarella, basil, vodka sauce and olive oil ($20.95). It has remained family-owned. "Natural protein and specialty perishable products are a very important part of UNFI's future. Tonys Fresh Market, the family-owned Chicago area grocery chain that arrived in North Riverside in 2008 before decamping to the Cermak Plaza in Berwyn a decade later, has been acquired by Apollo Global Management, a New York-based private equity fund. 5 things: Do you know about the Aldi Aisle of Shame? The family will remain involved both in management roles and as shareholders. (Photo courtesy of Cardenas Markets). Known as "Old Tony's," Tony's On The Pier is a great place for romantic seaside dining offering the BEST seafood in the South Bay. [7] Sure, Scott Pilgrim himself (Michael Cera) is an . in March of The Save Mart Companies, which operates supermarkets under several banners in California and Nevada, to private equity firm Kingswood Capital Management. Although food retailers got a major sales boost from the pandemic, they still face considerable competition from larger chains and pressure to invest more in digital operations. You . In August 2017, ownership of the shopping center changed, with IG Capital LLC obtaining the property from IG Riverside LLC via quit claim deed. Across its platform, Apollo has an extensive and successful track record investing in grocery companies, including leading franchises such as The Fresh Market, Sprouts Farmers Market, Smart & Final, Albertsons and more, through both past and present fund investments. The stock has a 50 day simple moving average of $30.62 and a 200-day simple moving average of $29.17. Few points from the Tony's history: The family owned company operates grocery chains in the Chicagoland area. Tonys was founded in 1979 in Logan Square by Tony Ingraffia and Domenico Gambino, according to the company website. Who Are We ? As of 2020[update], it has become more widely available in leading food stores such as Supervalu. Apollo reported that several more stores are now in development. Related: The Fresh Market moves forward with IPO. Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to. Realizing Baton Rougean's love for fresh seafood, Tony added crawfish, shrimp and crabs to his selection of produce. E. M. Forster's A Passage to India still lay in the future, with its even more unsparing depictions of racial and sexual hypocrisy, but Lord Curzon, the viceroy and governorgeneral of India, felt obliged . BMO Capital Markets also advised, and Kirkland & Ellis LLP served as legal adviser to Cardenas and KKR. The company bought a $1.75 billion stake in Albertsons in 2020 and also made a significant investments in Sprouts Farmers Markets. We cannot stress enough how grateful we are for the support weve received over the years. We then worked together on Sprouts mergers with Henrys and Sunflower in 2011 and 2012, respectively, to build the foundation from which Doug and Apollo then transformed Sprouts into a multibillion-dollar public company, with hundreds of stores and over 35,000 employees across the country., /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. Give Us Your Feedback! [13], In 2019, Tony's launched their chocolate bars in the United Kingdom, with Sainsbury's, Waitrose, Ocado, Mega Image and Whole Foods being some of the first stores to stock their products. "We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.". Tony's Seafood traces its roots back to 1959 when Donaldsonville, LA native Tony Pizzolato opened a small retail and wholesale produce business in the city of Baton Rouge. Our customers and our employees are the livelihood of this organization and without the support of our customers and the hard work and dedication of our employees, we would not be where we are today. 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. Registered in England and Wales. Tonys is a market leader thats built an incredible reputation in Chicago, known for its high-quality foods and differentiated offering that includes international food options and commitment to customer service, according Apollo partner Andrew Jhawar. These flavors rotate every six months. The family will remain involved. | 2 p.m. A New York private equity firm said Wednesday it has acquired Tonys Fresh Market, a Chicago-area grocery chain with 18 stores. Tonys has been family-owned and operated since its founding in 1979, when Italian immigrants Tony Ingraffia and Domenico Gambino opened the first location at Fullerton and Central Park avenues with a handful of employees. Fast forward to now, the Tonys Fresh Market family has grown exponentially: We now have 19 locations, over 400 vendors, and thousands of customers that we serve on a daily basis. Go: For Matawan: 930 Route . Apollo reported that several more stores are now in development. Joanna Reiss, an Apollo partner and the firm's co-lead of impact investing, indicated in the press release that the private equity firm wants to open more locations and expand Tony's efforts to provide "healthy and affordable food" to communities where it operates. We are focused on tackling the persistent challenge of access to healthy and affordable food, particularly in underserved communities, stated Apollo partner Joanna Reiss, who serves as the firms co-lead for impact investing. An explanation of winter vs nesting robins locally, winter aconite in snow, hiking the Appalachian Trail, and ice shacks being down on Lake Winnebago are among the notes from around Chicago outdoors. The SN Retailer Survey results: These are your concerns for 2023. The data showed that the sunshine state had exported a whopping $108.9 billion of product in the year up to May 2022, growing by $51.7 billion. This transaction will combine the best of both retailers and provide greater opportunities and scale for the respective brands and teams as they continue to bring quality, affordable groceries to diverse communities.. Lines and paragraphs break automatically. The $24.6 billion deal is as much about boosting scalein data, retail media and e-commerce as it is about expanding stores and facilities. In 2021, Apollo signaled it would seek to take The Fresh Market public once again, although that has not yet transpired. Menu Pizza. It was very important to Apollo that family remain in day-to-day management, he said, with the New York firm as a partner for financing and strategy. Why was HIVERY named in Fast Companys 2023 Worlds Most Innovative Companies? Cardenas Markets to acquire Rio Ranch Market, Apollo Global Management acquires Tonys Fresh Market, investment in Sprouts Farmers Market, which Doug led as CEO, acquisition of Itasca, Ill.-based Tonys Fresh Market, acquire fellow Latino grocer Rio Ranch Market, Sprouts mergers with Henrys and Sunflower, Allowed HTML tags:

. Tony's Meats & Market Centennial . [4] The product quickly became a success, with Van de Keuken selling 20,000 bars in two days. [5] Their first store in the West opened in October 2012 in Roseville, California. Investment firm Apollo Global Management plans to buy Hispanic grocer Cardenas Markets and combine it with recent acquisition Tonys Fresh Market to form a nearly $2 billion, ethnic-focused supermarket operator. Tony's Fresh Market ("Tony's") is a family-owned and operated grocery chain in the Chicagoland area. Having spent more than 20 years leading Apollos private equity investments in grocery and retail, I firmly believe the business is poised for strong organic growth, and together we see additional opportunities to support Tonys through go-to-market execution, customer loyalty programs, e-commerce and more. Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. Tony says the secret ingredient in his sausage is love - and from the . These locations were subsequently closed in May 2016 when Fresh Market shuttered its 13 locations in Texas, Iowa, Missouri, and Kansas. 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. Al Gore's 'eco-friendly' investment firm owns shares in polluting companies: report,Generation's Global Equity fund includes 18 firms which emitted increasingly more greenhouse gases annually between 2015 and 2021. In announcing the acquisition, Apollo described Tonys as a unique specialty grocer and noted that the chain holds a differentiated position in the market with its wide assortment of fresh produce, prepared foods and multicultural offerings. For example, over a dozen flavors are available in the Netherlands. 8 hour shift. We like to think that each and every vendor, employee, and customer that walks through our doors becomes part of the Tonys family. Call Menu Info. Tony's plays an important role in the local economy . MORE PHOTOS. Number 8860726. Tonys has six locations in Chicago, most of which are located on the citys Northwest Side. [11], In May 2022 the Chilean retail company Cencosud acquired 67% stake in Fresh Market. We've been delivering a fresh take on grocery shopping for more than 35 years. Financial terms of the transaction werent disclosed. Tony's Fresh Market, the family-owned Chicago area grocery chain that arrived in North Riverside in 2008 before decamping to the Cermak Plaza in Berwyn a decade later, has been acquired by Apollo Global Management, a New York-based private equity fund. Were trying to find out about that as well, Scarpiniti said. As of 2021, Apollo had about $498 billion assets under management. We could not be more proud of what weve achieved together in this transaction with Cardenas extraordinary CEO Doug Sanders, KKR and the exceptional Cardenas team, whose over 5,700 employees have helped the company serve as a pillar of dozens of Latino communities in the Western U.S. for over 40 years, particularly during the pandemic, Scott Moses, managing director and head of grocery, pharmacy and restaurants investment banking at New York-based Solomon Partners, told Supermarket News in an email. Ingraffia said he sees no potential tie-up with Jewel. And Cardenas store count already is slated to grow even before the Tonys combination.
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