South American retailer Cencosud buys majority stake in Apollo-backed Fresh Market Holdings

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The Fresh Market Holdings said Wednesday that South American retailer Cencosud agreed to invest $676 million for a 67% ownership position in the Greensboro, N.C.-based, 160-store supermarket chain in 22 states. The Berry family, management and Apollo Global Management Inc. APO, +2.95% will retain a minority position in Fresh Market, which generated $1.93 billion in revenue in 2021. Shares of Apollo rose 3.2%, compared to a loss of 0.1% by the S&P 500 SPX, -0.63%.

This article was originally published by Marketwatch.com. Read the original article here.

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