Launched in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, Tony's operates 19 specialty grocery stores across the Chicago market and neighboring communities in Illinois and. Terms of the deal were not disclosed. Tonys 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. Solomon Partners acted as lead financial adviser to Cardenas and KKR. The most popular of the three limited editions is then added to the exclusive collection, and sometimes the permanent collection. Tony's Fine Foods will serve as our platform for building . 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. 403 39th St Ogden, UT 84403 Uber. 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. 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Tony Ingraffia will be a shareholder and board member, said Andrew Jhawar, a partner at Apollo. We cannot stress enough how grateful we are for the support weve received over the years. Tony's Meats & Market Centennial . The same year, the market share of the brand exceeded 4.5 percent in the Netherlands.[10]. The memorandum, a copy of which was obtained by the BusinessMirror, showed that All Asian Countertrade Inc. shall import 240,000 MT, while Edison Lee Marketing Corp. and S&D Sucden Philippines Inc . Terms were not disclosed. Tony's Fresh Market operates 19 specialty grocery stores in and around the Chicago area. Apollo reported that several more stores are now in development. Consunji-led Semirara Mining and Power Corp. (SMPC) said its net income last year more than doubled to P39.9 billion, from the previous year's all . 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. We like to think that each and every vendor, employee, and customer that walks through our doors becomes part of the Tonys family. Tony's Fresh Market is a family owned grocery chain with full service meat counter, extensive produce departments, domestic and imported deli & fresh bakery Registered in England and Wales. Our History After returning from a trip to Europe, Ray Berry and his wife Beverly were inspired to bring the charm and essence of an open, European-style food market to America. 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. 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. Apollo also has invested in Albertsons, the parent company of Jewel-Osco. 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. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Get news highlights delivered directly to your e-mail inbox. A New York private equity firm said Wednesday it has acquired Tonys Fresh Market, a Chicago-area grocery chain with 18 stores. To learn more, visitwww.apollo.com. Shares of UBER stock opened at $33.69 on Friday. [4] The Berrys' idea was to develop a better grocery store that brought back the feeling of open European-style markets. 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. In the latter case, it was argued that the term "Fresh Market" was too generic to be trademarked. Ingraffia said he sees no potential tie-up with Jewel. Tonys Fresh Market (Tonys) is a family-owned and operated grocery chain in the Chicagoland area. Apollo Global Management, Inc. [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. To learn more about Tony's Charitable Foundation, our events, and ways to give back, please visit our. "Natural protein and specialty perishable products are a very important part of UNFI's future. 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Let Grocery Dive's free newsletter keep you informed, straight from your inbox. 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! Supermarket News is part of the Informa Connect Division of Informa PLC. 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! Their first store in the West opened in October 2012 in Roseville, California. 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. [5] Their first store in the West opened in October 2012 in Roseville, California. Sign In to access digital coupons or For better or worse. The current CEO, Daniel, started working at his Dad's Market at the age of 13. The firm, in Albertsons in 2020 and also made a significant investments in. [8], When a hazelnut milk chocolate bar was added to the lineup in 2010, Dutch TV show Een Vandaag reported that 9-year-old children participated in the Turkish hazelnut harvest. Rival chain Albertsons' use of a long-term lease option to keep the 65,000-square-foot building vacant delayed Tony's Fresh Market's use of its own purchased property for six years before it could . Situated right on the Pacific Ocean, Tony's offers breathtaking views and a whole lot more. It is unclear whether Apollos purchase of Tonys Fresh Market includes the North Riverside real estate holdings. [16], Last edited on 23 November 2022, at 20:48, "Fresh Market earns No. 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. 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. Apollo reported that several more stores are now in development. [25] [26], Tony's Chocolonely was ranked third on the 2022 Chocolate Scorecard, which rates chocolate companies according to their human rights and environmental credentials: traceability and transparency, living income for cocoa farmers, child labour (absence of), deforestation & climate, agroforestry, and agrochemical management.[27]. Menu Pizza. 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. Last week, Cardenas unveiled a deal to acquire fellow Latino grocer Rio Ranch Market, expanding its Southern California footprint. 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. Chicago-area specialty grocer Tonys Fresh Market has been acquired by affiliates of investment firm Apollo Global Management. Tony's, which carries an assortment that includes fresh produce, multicultural items and prepared foods, operates 18 stores in the Chicago area and plans to open several additional locations. 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. Chicago-area specialty food grocer Tony's Fresh Market has been acquired through funds managed by global asset company Apollo. Terms of the deal, which closed today, were . /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. Joanna Reiss, partner and co-lead of impact investing at Apollo, said the company views the acquisition very much as a partnership., She said Apollo was hoping to work with the family to drive more opportunity and more access to the incredible assortment that Tonys offers across the Chicagoland area and hopefully beyond that.. Tony's was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. March 1, 2023. [22], In 2022, the Thomson Reuters Foundation awarded Tony's Chocolonely the Stop Slavery Award in the category "Goods and Services Companies". Web page addresses and e-mail addresses turn into links automatically. That mortgage represented two loans, one of them a capital loan of $37.8 million. Apollo announced its acquisition of Itasca, Ill.-based Tonys Fresh Market in April. Call Menu Info. Tony's Meats & Market Littleton. 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, Sprouts Farmers Market, Smart & Final, and others. The History of Tony's Seafood Market. 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. 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. [20] The company also produces limited edition 'relay' bars for the supermarket chain Albert Heijn, with exclusive flavors corresponding to winter and summer tastes. Gambino is retiring, the company said, though his family will continue to be involved in the business. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Kroger and Albertsons merger: What lies ahead? Valli featured on The Rachael Ray Show! Related: Apollo Global Management acquires Tonys Fresh Market. The Fresh Market is an American chain of supermarkets based in Greensboro, North Carolina. Tony's was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. 8 hour shift. This is where I'm shopping from now on.!!!! Tonys Fresh Market has been sold to the private equity 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. 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. The acquisition by Apollo Global Management builds on its grocery investments nationally and locally. Tony says the secret ingredient in his sausage is love - and from the . 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. Realizing Baton Rougean's love for fresh seafood, Tony added crawfish, shrimp and crabs to his selection of produce. The founder of the company was Tony Ingraffia and Domenico Gambino in 1979. 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. In 2020, Apollo acquired convertible preferred shares in Albertsons representing a 17.5% stake in the company. The $24.6 billion deal is as much about boosting scalein data, retail media and e-commerce as it is about expanding stores and facilities. | Source: In 2005, the company lost a trademark dispute with "Marsh Supermarkets" relating to the 'Fresh Market' trademark. in March of The Save Mart Companies, which operates supermarkets under several banners in California and Nevada, to private equity firm Kingswood Capital Management. October 07, 2020. 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. Create an Account to access Tony's Loyalty Program. [17] The chocolate bars are unevenly divided, symbolizing the unequal distribution of incomes in the chocolate industry. 5 things: Do you know about the Aldi Aisle of Shame? Apollos supermarket investments over the years have included Albertsons Cos., The Fresh Market, Sprouts Farmers Market and Smart & Final, among others. Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to. Whoops! Widely recognized by market specialists and customers alike for its. Fresh, flavorful and healthy recipes made for real, actual, everyday life. The SN Retailer Survey results: These are your concerns for 2023. Visiting Tony's Market is a Combination Culinary and Cultural Adventure. 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.. [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. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. "We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.". Today, Tony's operates 18 stores across the Chicago metropolitan area with several more store locations currently in development. Apollo's acquisition of Tony's continues the private equity firm's ties to the grocery industry. Let us know! 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. A hyperlocal news site committed to in-depth reporting on issues concerning Riverside, North Riverside and Brookfield, Illinois. Established in 1979, Tonys is a unique specialty grocer that offers high-quality, affordable groceries with an inclusive assortment aimed at the diverse communities it serves. Tony's plays an important role in the local economy . Matias Videla, Chief Executive Officer of Cencosud mentioned, "The Fresh Market is one of the best supermarkets in the USA. It has remained family-owned. 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. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. [6], In 2012, Fresh Market acquired and remodeled four locations of longtime family-owned Houston grocer Rice Epicurean Markets. Why was HIVERY named in Fast Companys 2023 Worlds Most Innovative Companies? Lines and paragraphs break automatically. Store Hours. Currently, Itasca, Ill.-based Tonys operates 19 supermarkets across the Chicago market and neighboring communities in Illinois. "[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". Skip Navigation All stores. 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.
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