Tony s Market. Few points from the Tony's history: The family owned company operates grocery chains in the Chicagoland area. 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. 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. We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.. You don't build a business. 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. Apollo reported that several more stores are now in development. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. 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. [3], The Fresh Market was founded by Ray and Beverly Berry on March 5, 1982, in Greensboro, North Carolina. I am currently involved in a research project about fashion NFT's and would love to As of 2020[update], it has become more widely available in leading food stores such as Supervalu. The brand was called "Chocolonely" in reference to Van de Keuken feeling as if he was the only person in the industry who was interested in eradicating slavery. 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. Apollo partner Joanna Reiss said the firm is interested in getting healthy and affordable food to underserved communities. I'm looking for anyone who has bought befor/owns an NFT to talk with! Toppings: black olives, green olives, green peppers ham, Italian sausage, mushrooms, onions, pepperoni, pineapple, ground beef. 2007 - 2011. Check out the early Tony's Fresh Market sales ad circular to plan your shopping trip ahead of time to get ready for the new deals! We specialize in produce, meat, deli and bakery depts, while still carrying a wide assortment of grocery, dairy, frozen. The Apollo announcement said family members will continue in management and as shareholders. 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. We cannot stress enough how grateful we are for the support weve received over the years. New York-based Apollo said Wednesday that, going forward, Tonys Fresh Markets founding family will remain partners in the business, serving in management roles and as shareholders. 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. 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 is known for its wide assortment of fresh produce, prepared foods and multicultural offerings. Tony's Fresh Market ("Tony's") is a family-owned and operated grocery chain in the Chicagoland area. Call Menu Info. 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. GRAND PRAIRIE. [16], The number of available bar flavors varies by country and distribution channel. 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. Financial terms of the deal, announced late yesterday, werent disclosed. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. 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. Larry Lavine gives the brisket business . The Tribune reported that Gambino is retiring but his family will remain involved in the business. Tony's Fresh Market is a family owned grocery chain with full service meat counter, extensive produce departments, domestic and imported deli & fresh bakery In addition, Tonys plays a key role in the local economy and communities it serves, sourcing products from more than 400 vendors, Apollo added. One learns from Gilmour that Kipling's first Indian stories, Plain Tales From the Hills (1888), were considered subversive in their day. Financial terms of the transaction werent disclosed. 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.. Easily apply. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. [4] The Berrys' idea was to develop a better grocery store that brought back the feeling of open European-style markets. Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to Tonys Fresh Market. 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. 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This is not Apollos first foray into grocery sector investments. Tony's cocoa mass has been fully traceable since 2013, and its cocoa butter since 2016.[11]. The parties declined to comment on financial details of the transaction. [1] In 2018, the company's market share in the Netherlands was 18 percent, making it one of the country's largest chocolate manufacturers. [14], The chocolate bar was made available in Ireland from 2019 in a limited capacity. 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. Tony's Fresh Market same-day delivery in as fast as 1 hour with Instacart. The Fresh Market then became a privately held company and its stock was delisted on NASDAQ. As ofDecember 31, 2021, Apollo had approximately$498 billionassets under management. Tony Ingraffia, the owner and president of Tony's Fresh Market, said the Prospect Heights store at 1241 N. Rand Road will represent the "lucky number 13" for the Itasca-based company,. A New York private equity firm said Wednesday it has acquired Tonys Fresh Market, a Chicago-area grocery chain with 18 stores. The family will remain involved both in management roles and as shareholders. 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. According to Apollos announcement of the sale, members of Tonys founding family will partner as both shareholders and as management in the future. 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! Jhawar said growth could potentially include merger and acquisition opportunities. Stout Capital, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal counsel to. 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. Carlos Souffront, Cheese Specialist, Tony's Fine Foods. Let Grocery Dive's free newsletter keep you informed, straight from your inbox. 305 were here. Apollo unveiled its deal to acquire Chicago-area specialty grocer Tonys Fresh Market in April. Kroger and Albertsons merger: What lies ahead? 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. Our customers and our employees are the livelihood of this organization and without the support of our customers and the hard work and dedication of our employees, we would not be where we are today. Based in Fontana, Calif., Rio Ranch operates six supermarkets in San Bernardino, Riverside, Chino, Perris, Banning and Fontana as well as a warehouse in San Bernardino. The transaction is expected to be finalized by the third quarter, pending customary closing conditions, according to Apollo. Registered in England and Wales. View All . Apollo has a stake in Albertsons, whose properties include the Jewel-Osco stores. "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," Reiss said in a statement. Antonio Hernandez Director of Warehouse & Transportation Emily Mallahan Director of Digital Marketing & Retail Technology Molly Sullivan Director of Human Resources John van Dorsten Director of Daniels Warehouse [7] In the same year, the Dutch Media Authority (Comissariaat voor de Media) found that the excessive advertising Tony's Chocolonely received in seven episodes of Keuringsdienst van Waarde generated the company "more than normal profits", and fined the broadcaster of the show 20 thousand euros. Tony's Fine Foods will serve as our platform for building . Widely recognized by market specialists and customers alike for its. 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.. [2] History [ edit] The company has a market cap of $67.71 billion, a price-to-earnings ratio of -7.18 and a beta of 1.22. Who Are We ? "Natural protein and specialty perishable products are a very important part of UNFI's future. [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]. The family will remain involved. These two people were an italian immigrants who had a dream to begin a grocery business. 23917. Go: For Matawan: 930 Route . Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Start shopping online now with Instacart to get Tony's Fresh Market products on-demand. Apollo Global Management, Inc. 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. 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. Whoops! According to Apollo partner Andrew Jhawar, the acquisition of Tonys will enhance consumer access to fresh and often locally sourced foods across a diverse service area. Gambino is retiring, the company said, though his family will continue to be involved in the business. Well, that's exactly what you'll see when you walk into this Oxford home that is currently on the market for $1,399,000. The acquisition by Apollo Global Management builds on its grocery investments nationally and locally. While there were no confirmed instances of child labor within Tony's supply chain, their collaboration with another chocolate manufacturer, Barry Callebaut, resulted in Tony's removal from the list due to issues of child labor within Barry Callebaut's supply chain. 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. 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