who owns tony's fresh market
Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. Tony's was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. In 2011, Henk Jan Beltman became a majority shareholder and moved the company to a new location near Westergasfabriek. Chicago-based grocery retailer Tony's Fresh Market has been acquired by Apollo Funds, according to an April 20 statement from Apollo Global Management Inc. Tony's, which was founded in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, operates 18 stores in the Chicago area. 8 hour shift. Frank Ingraffia, CEO of Tonys, said in an interview that he foresees no change in day-to-day management as a result of the sale, except that our growth trajectory is going to change a little. He said Tonys, which has expanded at a rate of one to three stores a year, will become opportunistic in growing in the Chicago area and beyond. Plans call for Cardenas Chairman and CEO Doug Sanders to serve as chief executive of the combined company. Apollo representatives said customers can expect expansion, but declined to comment on the number of potential new stores or where they would be located. "[13] The Fresh Market was also in trademark disputes with Fresh Market at Roth's"[14] and in 2010 with a Utah-based company named "A Fresh Market". Sure, Scott Pilgrim himself (Michael Cera) is an . 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. Tonys was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. The firm, in Albertsons in 2020 and also made a significant investments in. It has remained family-owned. I would also like to thank KKR, which has been a tremendous strategic partner over the past six years, helping us grow and professionalize the business.. (Photo courtesy of Cardenas Markets). Apollo also has invested in Albertsons, the parent company of Jewel-Osco. The parties declined to comment on financial details of the transaction. 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. "Our brands have complementary strengths, and this partnership should give us more tools and expertise to further scale and serve our customers with fresh, healthy and affordable foods.. Tony's Meats & Market Centennial . Kathleen Sylvester, Cheese Specialist, Tony's Fine Foods. 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 Fresh Market CEO Frank Ingraffia, the son of co-founder Tony Ingraffia, said in a statement. Hispanic and specialty grocers to form leading multi-ethnic food retailer, Growth stands out for Sprouts Farmers Market in Q4, FY 2022, Ahoid Delhaize saves its customers, invests more in digital in 2022, Costco a victim of inflation after mixed Q2 report, Dollar Tree fined over $250K for safety violations, 2023 Informa USA, Inc., All rights reserved, Walmart Health plans to double in size in 2024, Publix caps year of new territory with sound Q4 results, Afresh expands into meat, seafood, deli, and foodservice, Hy-Vee Inc. to pay penalty for violating EPA pesticide order. 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. To learn more, visitwww.apollo.com. We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact, she said. About ApolloApollo is a high-growth, global alternative asset manager. Kroger and Albertsons merger: What lies ahead? As of 2021, Apollo had about $498 billion assets under management. 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. Founded in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, Tony's currently operates 18 stores in Chicagoland and is planning and developing new locations in that market. Go: For Matawan: 930 Route . Number 8860726. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Reiss praised Tonys assortment of healthful, affordable and culturally relevant foods, as well as its donations to local food banks, and said Apollo was focused on tackling issues of access to quality foods in underserved communities. Apollos backing of the family-owned operation is the latest in a series of fund investments in the grocery sector, including previous involvements with, The Fresh Market Moves to Go Public Once More, 2nd Doms Kitchen & Market to Open in Chicago This Fall, 15 Outstanding Independents That Dare to Stand Apart, Grocery Outlet to Expand Private Label Assortment, SpartanNash Taps Todd Riksen to Lead Accounting Functions. See if you qualify for a free subscription to our industry leading paper magazine. Centennial, CO 80111. In 2020, Apollo acquired convertible preferred shares in Albertsons representing a 17.5% stake in the company. Founded in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, Tonys currently operates 18 stores in Chicagoland and is planning and developing new locations in that market. Delivery Pickup unavailable. We like to think that each and every vendor, employee, and customer that walks through our doors becomes part of the Tonys family. 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. 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. Founded in 1979, Tony's is known for its large selection of fresh produce, prepared foods and multicultural offerings. Associated Food Stores has been serving Utah and its neighboring states for more than 70 years. Phone: 720-377-3680 Fax: 720-377-3687. As of 2020[update], it has become more widely available in leading food stores such as Supervalu. [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. [16], The number of available bar flavors varies by country and distribution channel. 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. Podcast: Whats everyone talking about at NGA? The New York-based private equity giant has made prior investments in the grocery sphere, putting down $1.75 billion in Albertsons Companies Inc. in 2020. Sign In to access digital coupons or Tonys has six locations in Chicago, most of which are located on the citys Northwest Side. Let us know! Tony's Pizza. 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. "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," Reiss said in a statement. You don't build a business. Supermarket News is part of the Informa Connect Division of Informa PLC. PRODUCTS. 403 39th St Ogden, UT 84403 Uber. In 2020, the company was named the most sustainable brand in the Netherlands for the third time by the Sustainable Brand Index. Visiting Tony's Market is a Combination Culinary and Cultural Adventure. 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, explained Joanna Reiss, an Apollo partner who helps lead impact investment for that company. Web page addresses and e-mail addresses turn into links automatically. Through this mission, our foundation hopes to provide care for the children of our Chicagoland area. We specialize in produce, meat, deli and bakery depts, while still carrying a wide assortment of grocery, dairy, frozen. Uber Technologies, Inc. has a 12-month low of $19.90 and a 12-month high of $37.58. 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. Easily apply. The Apollo announcement said family members will continue in management and as shareholders. These two people were an italian immigrants who had a dream to begin a grocery business. Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to. [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. Gambino is retiring, the company said, though his family will continue to be involved in the business. The Tribune reported that Gambino is retiring but his family will remain involved in the business. New York-based Apollo said Wednesday that, going forward, Tonys Fresh Markets founding family will remain partners in the business, serving in management roles and as shareholders. Lines and paragraphs break automatically. We Accept We are a proud Illinois produce distributor " Currently, Itasca, Ill.-based Tonys operates 19 supermarkets across the Chicago market and neighboring communities in Illinois. 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. [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. Terms of the deal weren't announced. [15], In 2021, the company received backlash after the American organization Slave Free Chocolate removed Tony's from their list of ethical chocolate companies. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. 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. 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. [12], The Fresh Market has been in numerous trademark disputes relating to its commonplace name. The company bought a $1.75 billion stake in Albertsons in 2020 and also made a significant investments in Sprouts Farmers Markets. Tony's plays an important role in the local economy . Albertsons owns grocery chains including Safeway and Jewel-Osco. [5], In 2007, after the company was sued by a Dutch importer of Swiss chocolates,[6] a court in Amsterdam ruled that there was sufficient evidence that the company's products were manufactured without the help of slaves.
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