The firm took over The Fresh Market in 2016, and filed plans last year to take the retailer public. As a part of our 40th Anniversary, we are very excited to announce Tony's Charitable Foundation. October 12, 2021 "Windy City Live" visits Valli for great Game Day Recipes! Jhawar said growth could potentially include merger and acquisition opportunities. 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. This is where I'm shopping from now on.!!!! We aim to team up with our local partners to find cures for childhood diseases. April 20, 2022 09:00 ET Founded in 1981, the retailer is one of the nations largest Hispanic grocery chains and sources products from over 500 vendors. Bachelor of Business Administration (B.B.A. "Natural protein and specialty perishable products are a very important part of UNFI's future. Tonys was founded in 1979 in Logan Square by Tony Ingraffia and Domenico Gambino, according to the company website. The average Tony's Fresh Market salary ranges from approximately $20,000 per year for Supervisor to $90,888 per year for Loss Prevention Officer. Tonys Fresh Market has been sold to the private equity firm Apollo Global Management. Although food retailers got a major sales boost from the pandemic, they still face considerable competition from larger chains and pressure to invest more in digital operations. We are excited to once again partner with Doug following our highly successful investment in Sprouts Farmers Market, which Doug led as CEO under Apollo funds ownership. March 1, 2023. 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. Reiss praised Tonys assortment of healthful, affordable and culturally relevant foods, as well as its donations to local food banks, and said Apollo was focused on tackling issues of access to quality foods in underserved communities. These two people were an italian immigrants who had a dream to begin a grocery business. 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. Webinar Tony s Market. Trio of executive entrepreneurs plan for 15-store expansion, Progressive Grocer celebrates forward-thinking indies in annual award program, This year's group of outstanding operators are on Progressive Grocer's radar for their way of innovating, differentiating and finding new approaches to serve their communities. [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. Last week, Cardenas unveiled a deal to acquire fellow Latino grocer Rio Ranch Market, expanding its Southern California footprint. The stock has a 50 day simple moving average of $30.62 and a 200-day simple moving average of $29.17. 2 min read. Plans call for Cardenas Chairman and CEO Doug Sanders to serve as chief executive of the combined company. Shares of UBER stock opened at $33.69 on Friday. Founded in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, Tony's currently operates 18 stores in Chicagoland and is planning and developing new locations in that market. Who Are We ? My family has been feeding our communities for generations and are incredibly excited to partner with Apollo to build on that legacy of fresh and healthy food, at an affordable price and delivered with respect to the many cultures of our customers, said Frank Ingraffia, the CEO of Tonys and a member of the companys founding family. BMO Capital Markets also advised, and Kirkland & Ellis LLP served as legal adviser to Cardenas and KKR. The History of Tony's Seafood Market. It just felt like we needed and wanted a partner that can help us get to the next level, said Frank Ingraffia, the CEO of Tonys and Tony Ingraffias son. Al Gore's 'eco-friendly' investment firm owns shares in polluting companies: report,Generation's Global Equity fund includes 18 firms which emitted increasingly more greenhouse gases annually between 2015 and 2021. Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. [17] The chocolate bars are unevenly divided, symbolizing the unequal distribution of incomes in the chocolate industry. In August 2017, ownership of the shopping center changed, with IG Capital LLC obtaining the property from IG Riverside LLC via quit claim deed. 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. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. . As a company, we are confident that if we provide high-quality products at affordable prices, and top-notch customer service, the Tonys Fresh Market family will continue to grow for years to come. Jhawar told the Chicago Tribune that Tony Ingraffia will be a shareholder and board member, and that Tony and Frank Ingraffia and some other family members will have a significant equity investment in the company. 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. It was very important to Apollo that family remain in day-to-day management, he said, with the New York firm as a partner for financing and strategy. O'Brien's hopes of remaining in control of Digicel with it remaining a highly-leveraged company ultimately ran out of road. 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. Skip Navigation All stores. Tony's Meats & Market needs energetic and motivated team members willing to work hard and have fun while helping our customers live happy and fulfilled lives. I'm looking for anyone who has bought befor/owns an NFT to talk with! Supermarket News is part of the Informa Connect Division of Informa PLC. Tony's Fine Foods will serve as our platform for building . Apollo acquired another chain, The Fresh Market, in 2016 for $1.36 billion and took the public company, described in a Reuters article as a moribund U.S. specialty grocery retailer, private. New York-based KKR acquired Cardenas Markets from the Cardenas family in 2016. Whoops! The unpaid principle on the capital loan was scheduled to come due in October 2022. Tony's Pizza. 5 things: Do you know about the Aldi Aisle of Shame? See if you qualify for a free subscription to our industry leading paper magazine. Your first delivery order is free! Realizing Baton Rougean's love for fresh seafood, Tony added crawfish, shrimp and crabs to his selection of produce. of Northeastern grocers Price Chopper/Market 32 and Tops Markets, both of which occurred last year. 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. 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Kroger and Albertsons merger: What lies ahead? The transaction continues a trend that has seen several other regional grocery companies change hands or merge recently. Get news highlights delivered directly to your e-mail inbox. Suburban stores include locations in Niles, Prospect Heights, Berwyn and Burbank, among others. Hispanic and specialty grocers to form leading multi-ethnic food retailer, Growth stands out for Sprouts Farmers Market in Q4, FY 2022, Ahoid Delhaize saves its customers, invests more in digital in 2022, Costco a victim of inflation after mixed Q2 report, Dollar Tree fined over $250K for safety violations, 2023 Informa USA, Inc., All rights reserved, Walmart Health plans to double in size in 2024, Publix caps year of new territory with sound Q4 results, Afresh expands into meat, seafood, deli, and foodservice, Hy-Vee Inc. to pay penalty for violating EPA pesticide order. Today, Tonys operates 18 stores across the Chicago metropolitan area with several more store locations currently in development. 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. Frank Ingraffia, CEO of Tonys, said in an interview that he foresees no change in day-to-day management as a result of the sale, except that our growth trajectory is going to change a little. He said Tonys, which has expanded at a rate of one to three stores a year, will become opportunistic in growing in the Chicago area and beyond. Fresh, flavorful and healthy recipes made for real, actual, everyday life. In the latter case, it was argued that the term "Fresh Market" was too generic to be trademarked. Through this mission, our foundation hopes to provide care for the children of our Chicagoland area. "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. FRESH NEWS. Kroger and Albertsons merger: What lies ahead? Cardenas has grown significantly over the last several years under Dougs leadership, and we are excited to accelerate its growth in combination with Tonys in this next phase, Andrew Jhawar and Joanna Reiss, partners at Apollo Private Equity, said in a joint statement. Our readers also recommended the Nonna Urbriaca, a traditional pan-baked, thin-crust square pie topped with fresh mozzarella, basil, vodka sauce and olive oil ($20.95). In 1978 Tony's children Angelo and Nikki-Ann expanded the business opening a wholesale and retail operation in Seekonk, MA. It's not every day that you walk into someone's home only to find killer dirt bikes on display right the in the living room. By 2015, after taking Sprouts public, according to an article in the Wall Street Journal, Apollo reaped gains of more than 10 times that initial investment. In 2020, the company was named the most sustainable brand in the Netherlands for the third time by the Sustainable Brand Index. Podcast: Whats everyone talking about at NGA? Financial terms of the deal, announced late yesterday, werent disclosed. Tony's Fresh Market operates 19 specialty grocery stores in and around the Chicago area. We have always taken pride in being a part of our local community and supporting our shoppers. [6], In 2012, Fresh Market acquired and remodeled four locations of longtime family-owned Houston grocer Rice Epicurean Markets. Go: For Matawan: 930 Route . [16], The number of available bar flavors varies by country and distribution channel. Through passion, hard work, loyal staff, and a little luck, Pete's has grown into one of Chicago's finest grocery chains. 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. 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. Delivery Pickup unavailable. Apollo's acquisition of Tony's continues the private equity firm's ties to the grocery industry. 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. GRAND PRAIRIE. Apollo's acquisition of Tony's continues the private equity firm's ties to the grocery industry. Stop by our deli for delicious prepared foods and our fresh meats and seafood departments. 0. | Source: While Tonys moved its retail operation out of North Riverside in 2018, a corporation managed by Ingraffia and Domenico Gambino still owns the shopping center where the store had been located. Tonys is a market leader thats built an incredible reputation in Chicago, known for its high-quality foods and differentiated offering that includes international food options and commitment to customer service, according Apollo partner Andrew Jhawar. Registered in England and Wales. 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. Our staff are courteous and friendly and our restaurants are perfect for romantic or family dining. Create an Account to access Tony's Loyalty Program. The SN Retailer Survey results: These are your concerns for 2023. We havent been able to get any type of response., Unclear whether sale includes companys North Riverside shopping center. !" 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! Across its platform, Apollo has an extensive and successful track record investing in grocery companies, including leading franchises such as The Fresh Market, Sprouts Farmers Market, Smart & Final, Albertsons and more, through both past and present fund investments. Cheese Only Pizza 12" Small $8.10; 15" Large $12.40; One Topping Pizza 12 . 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. A hyperlocal news site committed to in-depth reporting on issues concerning Riverside, North Riverside and Brookfield, Illinois.