About Us - Fresh Market 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. 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.
We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.. Tonys Fresh Market, a specialty grocery chain with 18 locations in the Chicago area, is being purchased by funds managed by affiliates of Apollo Global Management. ons! 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. Frank Ingraffia told the Tribune that Tonys has three new stores planned, including locations in Chicago, Joliet and Schaumburg, Ill. For the acquisition, Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel for the Apollo fund affiliates, while Stout Capital, LLC acted as financial adviser and McDermott Will & Emery LLP as legal counsel for Tonys Fresh Market. Related: Cardenas Markets to acquire Rio Ranch Market. Trio of executive entrepreneurs plan for 15-store expansion, Progressive Grocer celebrates forward-thinking indies in annual award program, This year's group of outstanding operators are on Progressive Grocer's radar for their way of innovating, differentiating and finding new approaches to serve their communities. In the latter case, it was argued that the term "Fresh Market" was too generic to be trademarked. Apollo reported that several more stores are now in development. Shares of UBER stock opened at $33.69 on Friday. 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My family has been feeding our communities for generations and are incredibly excited to partner with Apollo to build on that legacy of fresh and healthy food, at an affordable price and delivered with respect to the many cultures of our customers, said Frank Ingraffia, the CEO of Tonys and a member of the companys founding family. Larry Lavine gives the brisket business . Get the free daily newsletter read by industry experts. 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. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Albertsons owns grocery chains including Safeway and Jewel-Osco. From Qld to the world: Sunshine state's quirkiest exported products MORE PHOTOS. 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. In 1978 Tony's children Angelo and Nikki-Ann expanded the business opening a wholesale and retail operation in Seekonk, MA. The SN Retailer Survey results: These are your concerns for 2023. Cheese Only Pizza 12" Small $8.10; 15" Large $12.40; One Topping Pizza 12 . BMO Capital Markets also advised, and Kirkland & Ellis LLP served as legal adviser to Cardenas and KKR. The History of Tony's Seafood Market. Apollo acquires Tony's Fresh Market | Supermarket News These two people were an italian immigrants who had a dream to begin a grocery business. [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. 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 . We aim to team up with our local partners to find cures for childhood diseases. 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. Apollo said in the announcement that the company's founders will retain shares in the company and hold management positions, but did not provide details. Apollo Funds Acquire Tony's Fresh Market, a Leading It is unclear whether Apollos purchase of Tonys Fresh Market includes the North Riverside real estate holdings. It's not every day that you walk into someone's home only to find killer dirt bikes on display right the in the living room. Financial terms of the transaction werent disclosed. 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., Joanna Reiss, Apollo Partner and Co-Lead of Impact Investing, said We are focused on tackling the persistent challenge of access to healthy and affordable food, particularly in underserved communities. My family has been feeding our communities for generations and [is] 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, noted Ingraffia. 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. The sale of Tony's to Apollo marks the end of an era for the grocery chain, which was started in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino and has been family run since its inception. 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. Tony's Meats & Market Centennial . 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. 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. RBHS girls wrestlers make strides at state finals, Nazareth diver leaps to all-state 7th at IHSA finals, LTHS poms shine at Illinois Drill Team state finals, Whitney Young again proves LTHS girls nemesis, Proudly powered by Newspack by Automattic. Cardenas has grown significantly over the last several years under Dougs leadership, and we are excited to accelerate its growth in combination with Tonys in this next phase, Andrew Jhawar and Joanna Reiss, partners at Apollo Private Equity, said in a joint statement. Delivery Pickup unavailable. Apollo Global Management, Inc.
As of 2020[update], it has become more widely available in leading food stores such as Supervalu. . Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to Tonys Fresh Market. Fresh Perimeter Expertise. It just felt like we needed and wanted a partner that can help us get to the next level, said Frank Ingraffia, the CEO of Tonys and Tony Ingraffias son. 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. Menus for Tony's Pizza - Ogden - SinglePlatform The Fresh Market then became a privately held company and its stock was delisted on NASDAQ. Live Seafood for Sale | Tony's Seafood & Deli in Baton Rouge In the Netherlands its market share was 19% in 2018, with which it surpassed multinationals Verkade, Mars and Nestl. Get news highlights delivered directly to your e-mail inbox. Cardenas to merge with Tony's Fresh Market in Apollo acquisition The firm took over The Fresh Market in 2016, and filed plans last year to take the retailer public. Tonys has six locations in Chicago, most of which are located on the citys Northwest Side. I love teaching the beauty, balance and art of specialty food. 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. Chicago-area specialty grocer Tonys Fresh Market has been acquired by affiliates of investment firm Apollo Global Management. The U.S. federal court in South Bend, Indiana stated The Fresh Market trademark is descriptive and therefore weak and not entitled to broad sweeping protection. Tony Ingraffia will be a shareholder and board member, said Andrew Jhawar, a partner at Apollo. The family will remain involved both in management roles and as shareholders. Plans call for Cardenas and Tonys to continue to operate under their current brands and local leadership. medina police blotter 2022 ctek agm battery charger casa de vanzare constanta langa mare quickvue covid test horizontal pink line springfield prodigy upgrades how to . 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. Last year, the firm sold off the warehouse chain Smart & Final to Mexican retailer Grupo Comercial Chedraui for $620 million. Frank Ingraffia, a member of the founding family and Tonys CEO, said that the move came at the a good time for the independent grocer. Tony's Fresh Market, a specialty grocery chain with 18 locations in the Chicago area, is being purchased by funds managed by affiliates of Apollo Global . 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. We cannot stress enough how grateful we are for the support weve received over the years. [9] The company responded by immediately switching to a local hazelnut supplier from the Netherlands. Thank you, thank you, thank you, for an amazing 40 years and we hope to serve you, your families, and the communities that you live in for AT LEAST another 40 years. We think we have a good thing going here, and weve done well over the course of 43 years, but when you bring on a partner like Apollo it kind of takes you to the next level., Ingraffia, who began bagging groceries and pushing carts for the family business as a preteen, said Apollo would bring an improvement from the customers standpoint.. 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. 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. 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.. The new mayor has the power to physically remake the city or large portions of it. Tony's Market Go: For Matawan: 930 Route . 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: . "Natural protein and specialty perishable products are a very important part of UNFI's future. 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. [24] The company teamed up with Ben and Jerry's, only to end up embarrassed when their partner's suppliers were found to be employing illegal child labor months later. First Gen, PCAARRD ink MOU on agribusiness projects Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. New York-based KKR acquired Cardenas Markets from the Cardenas family in 2016. 5 things: Do you know about the Aldi Aisle of Shame? 50th Anniversary - February 2020 | Pete's Market - Pete's Fresh A large selection of fresh produce, extensive multicultural offerings and a wide range of prepared foods gives Tonys a differentiated position in the market. Ocr a level chemistry specification - ywna.wikinger-turnier.de 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. Founded in 1981, the retailer is one of the nations largest Hispanic grocery chains and sources products from over 500 vendors. Terms of the deal, which closed today, were .
Were trying to find out about that as well, Scarpiniti said. Tony continued the business formally establishing Tony's Seafood after his father's passing 1947. 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. We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact., Apollo seeks to take Chicago-based food retailer to next level. )Real Estate and Finance. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. | 2 p.m. Apollo also hopes to achieve "strong organic growth" through its management of Tony's, Andrew Jhawar, another partner in the firm, said in the announcement, pointing to the grocer's loyalty programs and e-commerce operations as areas where it intends to invest. Tony's Meats & Market Littleton - Tony's Meats & Market
[9], Apollo Global Management, LLC (APO) acquired the stock of The Fresh Market, Inc. (TFM) ("The Fresh Market") on April 27, 2016. While Tonys moved its retail operation out of North Riverside in 2018, a corporation managed by Ingraffia and Domenico Gambino still owns the shopping center where the store had been located. Work and Employment Relations of European Multinational Grocery Private equity giant acquires Tony's Fresh Market 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. A large selection of fresh produce, extensive multicultural offerings and a wide range of prepared foods gives Tony's a differentiated position in the market. The SN Retailer Survey results: These are your concerns for 2023. Chicago-area specialty food grocer Tony's Fresh Market has been acquired through funds managed by global asset company Apollo. Tony's was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. 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. Apollo partner Joanna Reiss said the firm is interested in getting healthy and affordable food to underserved communities. 8 hour shift. 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. According to ABS, Japan was Queensland's largest . Centennial, CO 80111. Apollo representatives said customers can expect expansion, but declined to comment on the number of potential new stores or where they would be located. About - Tony's Fresh Market 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. Tonys was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. 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.
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