. Apollo representatives said customers can expect expansion, but declined to comment on the number of potential new stores or where they would be located. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. [3], The Fresh Market was founded by Ray and Beverly Berry on March 5, 1982, in Greensboro, North Carolina. The most popular of the three limited editions is then added to the exclusive collection, and sometimes the permanent collection. Matias Videla, Chief Executive Officer of Cencosud mentioned, "The Fresh Market is one of the best supermarkets in the USA. Known for High-Quality, Fresh and Affordable Foods, Tony's Proudly Operates in Traditionally Underserved Communities Across ChicagolandNEW YORK and CHICAGO, April 20, 2022 (GLOBE NEWSWIRE . Tony's Pizza. Fresh, flavorful and healthy recipes made for real, actual, everyday life. Ingraffia said he sees no potential tie-up with Jewel. This is not Apollos first foray into grocery sector investments. [12] 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. Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. 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. 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. You don't build a business. 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. Through passion, hard work, loyal staff, and a little luck, Pete's has grown into one of Chicago's finest grocery chains. Realizing Baton Rougean's love for fresh seafood, Tony added crawfish, shrimp and crabs to his selection of produce. The History of Tony's Seafood Market. [5] Situated right on the Pacific Ocean, Tony's offers breathtaking views and a whole lot more. According to Apollo partner Andrew Jhawar, the acquisition of Tonys will enhance consumer access to fresh and often locally sourced foods across a diverse service area. Tony's Meats & Market Littleton. 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. Call Menu Info. 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With production steadily increasing, the company decided in 2015 to expand their business to the United States, opening their first international office in Portland, Oregon. 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. Kroger and Albertsons merger: What lies ahead? Chicago-area specialty food grocer Tony's Fresh Market has been acquired through funds managed by global asset company Apollo . And Cardenas store count already is slated to grow even before the Tonys combination. I loved it a great store and great produce and great prices.!!!! Cardenas Markets shares similar values as Tonys, and I am thrilled to combine forces with Doug and the Cardenas team to continue to strengthen our operations and build on our differentiated offering," Tony's Fresh Market CEOFrank Ingraffia said in a statement. 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. 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,. Sausages are hand-made at least once a week, and even more often during busy times, so at any point you may come in to see Tony grinding the meat and filling the casings for that day's sausage. We havent been able to get any type of response., Unclear whether sale includes companys North Riverside shopping center. Get news highlights delivered directly to your e-mail inbox. Shares of UBER stock opened at $33.69 on Friday. Tony's Fresh MarketFounded in 1979, Tony's is known for its large selection of fresh produce, prepared foods and multicultural offerings. A hyperlocal news site committed to in-depth reporting on issues concerning Riverside, North Riverside and Brookfield, Illinois. Visiting Tony's Market is a Combination Culinary and Cultural Adventure. There was an error and we couldn't process your subscription. 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). Menu Pizza. Tony's Fresh Market. 45. Tonys was founded in 1979 in Logan Square by Tony Ingraffia and Domenico Gambino, according to the company website. Tony's plays an important role in the local economy . Kroger and Albertsons merger: What lies ahead? Apollo reported that several more stores are now in development. Ontario, Calif.-based Cardenas currently operates 59 stores under the Cardenas Markets (51 locations), Los Altos Ranch Markets (seven locations) and Cardenas Ranch Markets (one location) banners in California, Nevada and Arizona. Scott Pilgrim vs. the World (2010) Edgar Wright's energetic adaptation of Bryan Lee O'Malley's hit indie comic book has its detractors. Jhawar told the Chicago Tribune that Tony Ingraffia will be a shareholder and board member, and that Tony and Frank Ingraffia and some other family members will have a significant equity investment in the company. Please reload the page and try again. On behalf of Tonys Fresh Market wed like to thank our vendor partners, employees, and most importantly our customers for over 40 years of continuous support! [6], In 2012, Fresh Market acquired and remodeled four locations of longtime family-owned Houston grocer Rice Epicurean Markets. 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. Apollo Global Management, Inc. NEW YORK and CHICAGO, April 20, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that funds managed by its affiliates (the Apollo Funds) have acquired Tonys Fresh Market (Tonys), a leading Chicago-based grocery retailer. Cassida Pro Launches RevolAIR SR-B1 Cash Room Solution for Grocery Retailers at NGA 2023, TimeForge to Showcase Innovative Grocery Workforce Management Technology at 2023 NGA Show, By signing up to receive our newsletter, you agree to our, Chicago-based specialty grocery chain Tony's Fresh Market has been. Carlos Souffront, Cheese Specialist, Tony's Fine Foods. 3 were here. [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. The stock has a 50 day simple moving average of $30.62 and a 200-day simple moving average of $29.17. Tony Ingraffia will be a shareholder and board member, said Andrew Jhawar, a partner at Apollo. The family will remain involved. Last week, Cardenas unveiled a deal to acquire fellow Latino grocer Rio Ranch Market, expanding its Southern California footprint. 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. Tonys Fresh Market has been sold to the private equity firm Apollo Global Management. Web page addresses and e-mail addresses turn into links automatically. About ApolloApollo is a high-growth, global alternative asset manager. The firm, in Albertsons in 2020 and also made a significant investments in. Currently, Itasca, Ill.-based Tonys operates 19 supermarkets across the Chicago market and neighboring communities in Illinois. By the end of 2018, in addition to its home country of The Netherlands, Tony's Chocolonely was also on sale in Belgium, Denmark, Finland, Germany, Sweden, and the United States. [18], In the United States, the available flavors of the chocolate bars are (in order of introduction):[19]. In the Netherlands its market share was 19% in 2018, with which it surpassed multinationals Verkade, Mars and Nestl. 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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. Apollo private equity has an extensive best-in-class track record of success in food retail, and I am thrilled to partner with Andy Jhawar and the Apollo team again in this exciting next chapter for Cardenas, he added. 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. Tony's was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. In 2020, the company was named the most sustainable brand in the Netherlands for the third time by the Sustainable Brand Index. The average Tony's Fresh Market salary ranges from approximately $20,000 per year for Supervisor to $90,888 per year for Loss Prevention Officer. Terms of the deal weren't announced. Chicago-area specialty food grocer Tony's Fresh Market has been acquired through funds managed by global asset company Apollo. Related: Smart & Final to be acquired by Bodega Latina for $620 million. PRODUCTS. Skip Navigation All stores. To learn more, visitwww.apollo.com. Last year, the firm sold off the warehouse chain Smart & Final to Mexican retailer Grupo Comercial Chedraui for $620 million. In August 2017, ownership of the shopping center changed, with IG Capital LLC obtaining the property from IG Riverside LLC via quit claim deed. Some bars have entered the permanent collection from there. Can't find an item? Over the years, Daniel has held multiple positions in the Markets including Dishwasher, Cook, Sausage-Maker, Store Director, Operations Director, Corporate Buyer, HR Director, and more. 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. View All . This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. I am currently involved in a research project about fashion NFT's and would love to The Tribune reported that Gambino is retiring but his family will remain involved in the business. The new mayor has the power to physically remake the city or large portions of it. Tonys was founded in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, who opened their first store at Fullerton and Central Park avenues in Chicago. Under the transaction, funds managed by Apollo affiliates have agreed to acquire Cardenas from investment funds affiliated with global investment firm KKR, New York-based Apollo said. The company bought a $1.75 billion stake in Albertsons in 2020 and also made a significant investments in Sprouts Farmers Markets. 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. The transaction is expected to close by mid-July. As ofDecember 31, 2021, Apollo had approximately$498 billionassets under management. IG Riverside LLC bought the North Riverside Park Plaza in September 2007 for $21,750,000 and took out a $17,400,000 mortgage to finance the purchase. In 2021, Apollo signaled it would seek to take The Fresh Market public once again, although that has not yet transpired. Tonys plays an important role in the local economy and community, sourcing products from over 400 vendors and providing affordable, high-quality food to thousands of families. Sunday 9am - 6pm; Monday 9am - 7pm; Tuesday 9am - 7pm; Wednesday 9am - 7pm; Thursday 9am - 7pm; . Check out Tony's Fresh Market's very own Chef Dino featured on ABC's Windy City Weekend making a delicious Fried Eggplant Tower Salad - https://lnkd.in/gN7GH8Fi A huge thanks to #Alessi for the . Let Grocery Dive's free newsletter keep you informed, straight from your inbox. That mortgage represented two loans, one of them a capital loan of $37.8 million. Tony, Frank and the broader team have built an incredible business, and we look forward to leveraging our extensive expertise to support their continued success.. Tony's Fresh Market same-day delivery in as fast as 1 hour with Instacart. Select a Tony's Fresh Market Location Below: Berwyn, IL Bolingbrook, IL Bridgeview, IL Burbank, IL Chicago, IL Countryside, IL Hanover Park, IL Melrose Park, IL Niles, IL Plainfield, IL Prospect Heights, IL 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. Tony's Fresh Market is a family-owned and operated grocery chain in the Chicagoland area. Tony's Fresh Market has been acquired by New York private-equity company Apollo Global Management. Through this mission, our foundation hopes to provide care for the children of our Chicagoland area. Apollo Funds has acquired Tony's Fresh Market in the Chicago area. As the private-equity firm helps Tonys navigate future growth, Apollo also supports the grocers ongoing efforts to improve food security and donate to community food banks. March 02, 2023 5:30 AM. It has remained family-owned. New York-based Apollo said Wednesday that, going forward, Tony's Fresh Market's founding family will remain partners in the business, serving in management roles and as shareholders.. 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. The transaction between Tony's and Apollo follows on the heels of the. Tony's Fine Foods will serve as our platform for building . MORE PHOTOS. Frank Ingraffia, the CEO of Tonys and a member of the founding family, said, My family has been feeding our communities for generations and are 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.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, said Apollo Partner Andrew Jhawar. The transaction continues a trend that has seen several other regional grocery companies change hands or merge recently. Founded in 1981, the retailer is one of the nations largest Hispanic grocery chains and sources products from over 500 vendors. April 20, 2022 09:00 ET Informa PLC's registered office is 5 Howick Place, London SW1P 1WG.