The Hendersonville location of The Fresh Market, a decades-old North Carolina-born gourmet supermarket chain, is more modest in size and selection than the gleaming, palatial flagship the company opened a couple years ago in Charlotte. And though picturesque downtown Hendersonville-with its crystal shops, old timey ice cream shop, and dingy biker bar-suggests a degree of ideological diversity, it's hard to imagine gun-loving Republican Congressman Madison Cawthorn, probably the biggest national figure to call this small western North Carolina city home, driving through the mind-numbing labyrinth of strip malls radiating out from the city center and choosing to pull over here. For one thing, there are already two other supermarkets-including state favorite Harris Teeter-within a stone's throw of its unremarkable brick façade, sandwiched between a PetSmart and a shuttered discount department store. What makes suburban dining great, and as the suburbs shift, how are suburban dining scenes changing? Read more here.Ī grocery store that plays classical music around the clock, offers several different varieties of climate-friendly toilet paper, and boasts its own private-label French raclette isn't the first thing you'd expect to see on Greenville Highway in Hendersonville, NC. At the time, The Fresh Market operated 186 stores in 27 states, and the deal was completed in April 2016.įounded 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.MUNCHIES State of the Suburbs is an exploration of eating in the American suburbs today. 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 and The Fresh Market announced on March 14, 2016, that the retailer agreed to be acquired by an affiliate of the private equity firm in a deal valued at about $1.36 billion. The Fresh Market’s preliminary IPO filing was made nearly five years to the day after the retailer had unveiled plans to go private. The retailer generated revenue of $1.93 billion in 2021. Overall, The Fresh Market operates 160 stores in 22 states, with the majority in Florida. The IPO withdrawal, first reported by Reuters, comes two months after Cencosud, a leading retail group based in Chile, said it had purchased 67% of The Fresh Market in a $676 million deal with Apollo Global Management, whose affiliates manage the grocery chain’s controlling fund. Related: Chilean retail group acquires majority stake in The Fresh Market Plans called for The Fresh Market’s common stock to list on the Nasdaq Global Select Market exchange under the symbol TFM. Before the withdrawal request, most recent action on the IPO had been a March 11, 2022, filing of a preliminary prospectus. The Fresh Market submitted an S-1 registration statement for an IPO on July 16, 2021, following a draft IPO registration statement filed on March 12, 2021, as well as several amended filings. “The company confirms that the registration statement has not been declared effective, no securities have been or will be issued or sold pursuant to the registration statement, and no preliminary prospectus contained in the registration statement has been distributed.” “The company submits this request for withdrawal as it does not intend to pursue the contemplated public offering of the securities covered by the registration statement at this time,” The Fresh Market stated in the filing. Related: The Fresh Market to mark 40th anniversary In the July 13 SEC filing, the Greensboro, N.C.-based retailer also indicated the request effectively scraps its IPO effort. on Wednesday requested that the Securities and Exchange Commission withdraw its registration statements and amendments for an IPO. Specialty grocer The Fresh Market is canceling its initial public offering a year after submitting its IPO filing.
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