The firm took over The Fresh Market in 2016, and filed plans last year to take the retailer public. Few points from the Tony's history: The family owned company operates grocery chains in the Chicagoland area. Our staff are courteous and friendly and our restaurants are perfect for romantic or family dining. Web page addresses and e-mail addresses turn into links automatically. 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. 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.. [3], The Fresh Market was founded by Ray and Beverly Berry on March 5, 1982, in Greensboro, North Carolina. Currently, Itasca, Ill.-based Tonys operates 19 supermarkets across the Chicago market and neighboring communities in Illinois. As a family owned and operated business with over 50 years of experience, Pete's Fresh Market has stayed true to its core values: delivering the highest quality and freshest products at an honest price. Tony's Delicatessen and Fresh Meats has proudly been the premier butcher and deli. 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. Kathleen Sylvester, Cheese Specialist, Tony's Fine Foods. Ingraffia said three new stores were in the pipeline, including one in Chicago and one store each in Joliet and Schaumburg. By 2015, after taking Sprouts public, according to an article in the Wall Street Journal, Apollo reaped gains of more than 10 times that initial investment. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. The Fresh Market then became a privately held company and its stock was delisted on NASDAQ. Let us know! 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. [18], In the United States, the available flavors of the chocolate bars are (in order of introduction):[19]. Kroger and Albertsons merger: What lies ahead? Other recent deals involving regional grocers include the, by Raley's of Arizona chain Bashas' and the. 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. 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! A hyperlocal news site committed to in-depth reporting on issues concerning Riverside, North Riverside and Brookfield, Illinois. 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. Web page addresses and e-mail addresses turn into links automatically. 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. Create an Account to access Tony's Loyalty Program. Fresh Perimeter Expertise. Let Grocery Dive's free newsletter keep you informed, straight from your inbox. 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. We are confident that Apollo and Tonys Fresh Market are the right partners for Cardenas as it enters its next chapter of growth.. Solomon Partners acted as lead financial adviser to Cardenas and KKR. Apollos supermarket investments over the years have included Albertsons Cos., The Fresh Market, Sprouts Farmers Market and Smart & Final, among others. 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. 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. 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. [7] 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. Through passion, hard work, loyal staff, and a little luck, Pete's has grown into one of Chicago's finest grocery chains. 2 minute read. 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. Tony's Fresh Market ("Tony's") is a family-owned and operated grocery chain in the Chicagoland area. Number 8860726. Tony's Fresh Market operates 19 specialty grocery stores in and around the Chicago area. 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. The Apollo announcement said family members will continue in management and as shareholders. The business has been family-owned and operated since its founding more than 40 years ago, and the founding family will partner with Apollo, both in management roles and as shareholders going forward. 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. . 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. Tonys was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. Terms of the deal were not disclosed. This is not Apollos first foray into grocery sector investments. [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. Built in 1888, the mansionwhich has a Dearborn Street address but faces Delaware Placehas been undergoing restoration for the past eight years by its current owner, Jimmy Dremonas, owner of. [15], In 2021, the company received backlash after the American organization Slave Free Chocolate removed Tony's from their list of ethical chocolate companies. We are excited to once again partner with Doug following our highly successful investment in Sprouts Farmers Market, which Doug led as CEO under Apollo funds ownership. The transaction is expected to close by mid-July. 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. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Scott Pilgrim vs. the World (2010) Edgar Wright's energetic adaptation of Bryan Lee O'Malley's hit indie comic book has its detractors. 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. Widely recognized by market specialists and customers alike for its. 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. (Photo courtesy of Cardenas Markets). 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. The transaction continues a trend that has seen several other regional grocery companies change hands or merge recently. Last week, Cardenas unveiled a deal to acquire fellow Latino grocer Rio Ranch Market, expanding its Southern California footprint. Financial terms of the transaction werent disclosed. | 2 p.m. Chicago-area specialty food grocer Tony's Fresh Market has been acquired through funds managed by global asset company Apollo . Plans call for Cardenas Chairman and CEO Doug Sanders to serve as chief executive of the combined company. 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. Founded in 1979, Tony's is known for its large selection of fresh produce, prepared foods and multicultural offerings. In the latter case, it was argued that the term "Fresh Market" was too generic to be trademarked. We've been delivering a fresh take on grocery shopping for more than 35 years. Why was HIVERY named in Fast Companys 2023 Worlds Most Innovative Companies? [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. [11], In May 2022 the Chilean retail company Cencosud acquired 67% stake in Fresh Market. 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 . See More Recipes About Us Departments Weekly Ads Catering Recipes Contact Us Address: 2701 W. North Ave. Chicago, IL 60647 Hours of Operation: 7am - 9pm (7 days a week) Get Social 773-278-4447 NOW HIRING! Suburban stores include locations in Niles, Prospect Heights, Berwyn and Burbank, among others. I love teaching the beauty, balance and art of specialty food. The History of Tony's Seafood Market. 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. New York-based KKR acquired Cardenas Markets from the Cardenas family in 2016. 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. Last year, the firm sold off the warehouse chain Smart & Final to Mexican retailer Grupo Comercial Chedraui for $620 million. Associated Food Stores has been serving Utah and its neighboring states for more than 70 years. Since joining Cardenas, we have made great progress in growing and enhancing our operations with KKRs support, and I am thrilled by the opportunity for our team to now partner with Frank and the Tonys team, leveraging our collective strengths. We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.. The transaction between Tony's and Apollo follows on the heels of the sale in March of The Save Mart Companies, which operates supermarkets under several banners in California and Nevada, to private equity firm Kingswood Capital Management. 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. Tony's Chocolonely is a Dutch confectionery company founded in 2005, which produces and sells chocolate. [4] The Berrys' idea was to develop a better grocery store that brought back the feeling of open European-style markets. 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. Tony's Chocolonely is a Dutch confectionery company founded in 2005, which produces and sells chocolate. The acquisition by Apollo Global Management builds on its grocery investments nationally and locally. 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. [3], After three years of unsuccessful attempts to change the industry through investigative efforts, Van de Keuken decided to start producing chocolate bars himself.
Chief Executive Of Lambeth Council,
Scorpio And Gemini Friendship,
Dir En Grey Members,
The Duffer Brothers Email For Auditions,
Articles W