Chilean retail giant Cencosud set to acquire The Fresh Market

Leading Latin American retail company Cencosud reached an agreement with AP VIII Pomegranate Holdings, L.P. (“Apollo”) to acquire the remaining 33 percent stake in The Fresh Market for $296 million. This grants Cencosud full ownership of the supermarket chain, further strengthening the retailer's position in the US.

Headquartered in North Carolina, The Fresh Market currently operates 172 stores across the United States and has been recognized as “America’s Best Supermarket” by USA Today for four consecutive years. Cencosud is a leading retail holding in Latin America, with operations in Argentina, Brazil, Chile, the United States, Colombia, and Peru.

“This agreement marks a significant milestone in our strategy to strengthen Cencosud’s presence in the US market,” said Rodrigo Larraín, CEO of the Chilean retailer. “With 100 percent ownership of The Fresh Market, we can accelerate the full integration of the chain into our operations, unlock synergies, and continue generating long-term sustainable value.”

The closing of the transaction is subject to customary terms and conditions, including the execution of purchase agreements by all TFM shareholders. Cencosud will provide timely updates to the market regarding the fulfillment of these conditions and the completion of the transaction.

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