Molly O'Sullivan sur LinkedIn : I'm looking for anyone who has bought "We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.". Together, Cardenas and Tonys generate revenue of about $1.8 billion from 78 stores in three Western states and the Chicago area, enabling them to benefit from greater scale and complementary capabilities in a larger operating footprint, Apollo noted. The company has a market cap of $67.71 billion, a price-to-earnings ratio of -7.18 and a beta of 1.22. Tony's Fresh Market Weekly Ad - sales & flyers specials - MallsCenters Tonys was founded in 1979 in Logan Square by Tony Ingraffia and Domenico Gambino, according to the company website. Financial terms of the transaction werent disclosed. Apollo also hopes to achieve "strong organic growth" through its management of Tony's, Andrew Jhawar, another partner in the firm, said in the announcement, pointing to the grocer's loyalty programs and e-commerce operations as areas where it intends to invest. 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. 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. We think we have a good thing going here, and weve done well over the course of 43 years, but when you bring on a partner like Apollo it kind of takes you to the next level., Ingraffia, who began bagging groceries and pushing carts for the family business as a preteen, said Apollo would bring an improvement from the customers standpoint.. by Lenie Lectura. Podcast: Whats everyone talking about at NGA? ons! Apollo Funds Acquire Tony's Fresh Market, a Leading Chicago-Based I love teaching the beauty, balance and art of specialty food. Tony s Market. Rival chain Albertsons' use of a long-term lease option to keep the 65,000-square-foot building vacant delayed Tony's Fresh Market's use of its own purchased property for six years before it could . Uber Technologies, Inc. has a 12-month low of $19.90 and a 12-month high of $37.58. You don't build a business. About ApolloApollo is a high-growth, global alternative asset manager. Apollo unveiled its deal to acquire Chicago-area specialty grocer Tonys Fresh Market in April. We hope to further strengthen and scale Tonys, and by doing so achieve strong financial performance alongside even greater impact.. Our experts have the vision, skill and connoisseurship to help you go beyond the expected. 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 Give Us Your Feedback! Why was HIVERY named in Fast Companys 2023 Worlds Most Innovative Companies? 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. 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. As of 2021, Apollo had about $498 billion assets under management. Private equity giant acquires Tony's Fresh Market Tony Pizzolato, father of Bill and his five siblings who own Tony's Seafood, opened a wholesale produce and fruit stand on Plank Road in 1959, according to an Advocate obituary of Pizzolato. We seek to provide our clients excess return at every point along the risk-reward spectrum from Investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Menu Pizza. MORE PHOTOS. Tony's has always been a family business. of Northeastern grocers Price Chopper/Market 32 and Tops Markets, both of which occurred last year. 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 operates 19 specialty grocery stores in and around the Chicago area. Tony's Delicatessen and Fresh Meats has proudly been the premier butcher and deli. Related: Smart & Final to be acquired by Bodega Latina for $620 million. Tony's Fresh Market is a family owned and operated supermarket chain. Store Hours. 305 were here. 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. My family has been feeding our communities for generations and [is] incredibly excited to partner with Apollo to build upon that legacy of fresh and healthy food, at an affordable price and delivered with respect to the many cultures of our customers, noted Ingraffia. Lofaro's Fresh Market - Facebook Get the free daily newsletter read by industry experts. 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. Tony's Delicatessen & Fresh Meats | Williamsport PA - Facebook Phone: 720-377-3680 Fax: 720-377-3687. Welcome to our new page Lofaro's Fresh Market formally Great Lakes Fresh Market! In 2017, there were a series of financial moves, beginning with the original mortgage terminating that July and Tonys Finer Food Enterprises lending $10 million to IG Riverside LLC. Apollo noted that, under KKRs ownership, Cardenas doubled in size via organic growth and strategic acquisitions. According to ABS, Japan was Queensland's largest . Our staff are courteous and friendly and our restaurants are perfect for romantic or family dining. Ocr a level chemistry specification - ywna.wikinger-turnier.de Tony's Chocolonely - Wikipedia [18], In the United States, the available flavors of the chocolate bars are (in order of introduction):[19]. Gambino is retiring, the company said, though his family will continue to be involved in the business. Tony's Fresh Market - LinkedIn Apollo's acquisition of Tony's continues the private equity firm's ties to the grocery industry. The Long Dumb Road [DVD] - amazon.com Sunday 9am - 6pm; Monday 9am - 7pm; Tuesday 9am - 7pm; Wednesday 9am - 7pm; Thursday 9am - 7pm; . Apollo partner Joanna Reiss said the firm is interested in getting healthy and affordable food to underserved communities. Home - Cermak Produce 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. We havent been able to get any type of response., Unclear whether sale includes companys North Riverside shopping center. Noah GunnGlobal Head of Investor RelationsApollo Global Management, Inc.(212) 822-0540IR@apollo.com, Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.(212) 822-0491Communications@apollo.com. Upon closing, Tony's will be operated as a wholly-owned subsidiary of the Company, and the transaction is expected to be accretive to the Company's earnings in its fiscal year 2015. 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. Web page addresses and e-mail addresses turn into links automatically. Tony's Fresh Market has been acquired by New York private-equity company Apollo Global Management. 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. Apollo acquires Tony's Fresh Market | Supermarket News For example, over a dozen flavors are available in the Netherlands. Stephanie Dremonas - Executive Officer - Pete's fresh Market - LinkedIn !" Call Menu Info. See if you qualify for a free subscription to our industry leading paper magazine. This 3,512 sqft modern home was built in 2002 and sits on 21 acres of country awesomeness. 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. Founding family to retain stake in Chicagoland grocery chain, 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, Apollos supermarket investments over the years have included, 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. 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.. Tony's Fresh Market sold to Apollo Global Management The current CEO, Daniel, started working at his Dad's Market at the age of 13. The firm took over The Fresh Market in 2016, and filed plans last year to take the retailer public. As ofDecember 31, 2021, Apollo had approximately$498 billionassets under management. A hyperlocal news site committed to in-depth reporting on issues concerning Riverside, North Riverside and Brookfield, Illinois. Realizing Baton Rougean's love for fresh seafood, Tony added crawfish, shrimp and crabs to his selection of produce. Fast forward to now, the Tonys Fresh Market family has grown exponentially: We now have 19 locations, over 400 vendors, and thousands of customers that we serve on a daily basis. Tony's Fresh Market Acquired by Private-Equity Firm "Natural protein and specialty perishable products are a very important part of UNFI's future. RBHS girls wrestlers make strides at state finals, Nazareth diver leaps to all-state 7th at IHSA finals, LTHS poms shine at Illinois Drill Team state finals, Whitney Young again proves LTHS girls nemesis, Proudly powered by Newspack by Automattic. 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. Together, as two of the highest-quality Hispanic and ethnic grocers, we can deliver even greater value to the communities we serve, commented Sanders, who also serves as Cardenas chairman. Plans call for Cardenas and Tonys to continue to operate under their current brands and local leadership. Tonys Fresh Market has been sold to the private equity firm Apollo Global Management. Tony's Charitable Foundation gives back to those families through charitable donations. Fresh Market is your local neighborhood grocery store owned and operated by Associated Food Stores, a member-owned wholesale grocery distributor based in Salt Lake City, Utah. [13], In 2019, Tony's launched their chocolate bars in the United Kingdom, with Sainsbury's, Waitrose, Ocado, Mega Image and Whole Foods being some of the first stores to stock their products. In August 2017, ownership of the shopping center changed, with IG Capital LLC obtaining the property from IG Riverside LLC via quit claim deed. 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. Apollo announced its acquisition of Itasca, Ill.-based Tonys Fresh Market in April. Visiting Tony's Market is a Combination Culinary and Cultural Adventure. Apollo Global Management did not respond to an email from the Landmark about any potential consolidation of operations or about the North Riverside Park Plaza. Tony's Fresh Market bought by private-equity firm - Crain's Chicago [5], In 2007, after the company was sued by a Dutch importer of Swiss chocolates,[6] a court in Amsterdam ruled that there was sufficient evidence that the company's products were manufactured without the help of slaves. Carlos Souffront, Cheese Specialist, Tony's Fine Foods. Apollo reported that several more stores are now in development. Let Grocery Dive's free newsletter keep you informed, straight from your inbox. These two people were an italian immigrants who had a dream to begin a grocery business. The memorandum, a copy of which was obtained by the BusinessMirror, showed that All Asian Countertrade Inc. shall import 240,000 MT, while Edison Lee Marketing Corp. and S&D Sucden Philippines Inc . I loved it a great store and great produce and great prices.!!!! Tony's Fresh Market ("Tony's") is a family-owned and operated grocery chain in the Chicagoland area. The business has been family-owned and operated since its founding more than 40 years ago, and the founding family will partner with Apollo, both in management roles and as shareholders going forward. In the Netherlands its market share was 19% in 2018, with which it surpassed multinationals Verkade, Mars and Nestl. 9h Add some zest to National Margarita Day (Feb 22nd) with this 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. Kroger and Albertsons merger: What lies ahead? Founded in 1979 by Italian immigrants Tony Ingraffia and Domenico Gambino, Tonys currently operates 18 stores in Chicagoland and is planning and developing new locations in that market. Founded in 1979, Tony's is known for its large selection of fresh produce, prepared foods and multicultural offerings. Scott Pilgrim vs. the World (2010) Edgar Wright's energetic adaptation of Bryan Lee O'Malley's hit indie comic book has its detractors. 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.. An explanation of winter vs nesting robins locally, winter aconite in snow, hiking the Appalachian Trail, and ice shacks being down on Lake Winnebago are among the notes from around Chicago outdoors. 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. In announcing the acquisition, Apollo described Tonys as a unique specialty grocer and noted that the chain holds a differentiated position in the market with its wide assortment of fresh produce, prepared foods and multicultural offerings. About - Tony's Fresh Market TONY'S FRESH MARKET - 43 Photos & 65 Reviews - 4608 W Belmont Ave Terms of the deal weren't announced. Frank Ingraffia, a member of the founding family and Tonys CEO, said that the move came at the a good time for the independent grocer. April 20, 2022 09:00 ET Tony's Fresh Market acquired by New York-based Apollo Global Management First Gen, PCAARRD ink MOU on agribusiness projects I would also like to thank KKR, which has been a tremendous strategic partner over the past six years, helping us grow and professionalize the business.. "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. Tonys Fresh Market (Tonys) is a family-owned and operated grocery chain in the Chicagoland area. 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. 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. Home - Tony's Fresh Market Start shopping online now with Instacart to get Tony's Fresh Market products on-demand. Tony's Fresh Market sold to a private equity firm Podcast: Whats everyone talking about at NGA? Fresh Perimeter Expertise. Menus for Tony's Pizza - Ogden - SinglePlatform In October 2017, IG Capital LLC obtained a $43.8 million mortgage for multiple properties, including the North Riverside land, from Village Bank & Trust.