The Fresh Market Withdraws Plans for Initial Public Offering
NORTH CAROLINA - Succeeding in the retail industry is all about adaptation, whether it be to the current retail market, evolving consumer demands, or any other industry shifts. After announcing its plans to go public last July, The Fresh Market has made a pivot in its strategy and revealed it is putting a hold on its initial public offering (IPO).
This play comes just short of two months after Chilean retail group Cencosud announced its purchase of a 67 percent stake in the North Carolina-based grocer. The acquisition, which was announced back in May, was a $676 million deal.
The Fresh Market did not give a reason for its newly announced plan. However, according to Reuters, the United States IPO market has hit a slump in recent months as recession fears and the fallout from the Ukraine crisis hammer equities.
The Fresh Market was taken private in 2016 in a $1.36 billion deal with Apollo Global Management.
As we await the execution of the grocer’s further growth strategies, keep clicking on AndNowUKnow.
