"As others in the industry have become more conventional, we have continued to differentiate our offering to create excitement about our brand’s reputation." - Jason Potter, The Fresh Market CEOįounded in 1982, The Fresh Market had gone public via a $290 million IPO in November 2010, when the company had 100 stores in 20 states. At the time, The Fresh Market operated 186 stores in 27 states, and the deal was completed in April 2016. The Fresh Market founder and chairman Ray Berry and his son Brett Berry, who together owned 9.8% of the chain’s outstanding shares, agreed to roll over the vast majority of their holdings in the transaction with Apollo. New York-based Apollo Global Management and The Fresh Market announced on March 14, 2016, that the retailer agreed to be acquired by an affiliate of the private equity firm for $28.50 per share in cash, totaling about $1.36 billion. The Fresh Market’s preliminary IPO filing this past March came almost five years to the day after the retailer unveiled plans to go private. It also has a dedicated team that sources local products to ensure differentiation from conventional retailers.” “The company maintains a supply chain and distribution partners that allow it to deliver food from farm to shelf in 14 days or less. “The Fresh Market provides high-quality, fresh foods and difficult-to-find items in a small, intimate store footprint with high-touch guest service and exceptional cleanliness,” Greenwich, Conn.-based Renaissance Capital said in a research note on the S-1 filing. Currently, the specialty grocer operates 159 stores in 22 states. IPO specialist Renaissance Capital estimated that The Fresh Market could fetch up to $250 million in the IPO. As others in the industry have become more conventional, we have continued to differentiate our offering to create excitement about our brand’s reputation.” “Our stores have consistently been regarded as exceptionally clean, and we have established safety and sanitation committees to ensure every store meets new enhanced protocols under the COVID-19 environment. We believe The Fresh Market is positioned to capture the secular trend of consumer preference for higher-quality, fresh food,” Potter (left) explained. “Our core product offering of high-quality fresh food, hard-to-find ingredients and specialty foods, local items, and curated meal offerings is resonating with our guests, both old and new. Related: The Fresh Market eyes initial public offering “With this offering, we will return to the public markets, which we believe will allow us significant flexibility in funding our strategy, including allowing us to refinance a significant portion of our debt,” The Fresh Market President and CEO Jason Potter said in a letter to potential stockholders that was included in the filing. Its common stock would list on the Nasdaq Global Select Market exchange under the symbol TFM.
#The fresh market registration#
Greensboro, N.C.-based The Fresh Market listed a placeholder offering amount of $100 million for calculation of the registration fee. The S-1 filing indicated that the number of common shares in the offering and the price range have yet to be determined. Related: The Fresh Market finishes first on USA Today top 10 supermarkets list That followed a draft IPO registration statement filed on March 12, as well as several amended filings. submitted an S-1 registration statement for an IPO on July 16 with the Securities and Exchange Commission (SEC). Parent company The Fresh Market Holdings Inc. The Fresh Market is proceeding with an official filing for an initial public offering, marking the second time that the company will go public.
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