Cencosud, based in Chile, has announced acquisition of two-thirds of the equity of The Fresh Market chain in a transaction valued at $617 million.  The Greensboro, N.C. company operates 160 stores in 22 states. Cencosud operates 900 stores under numerous banners in Argentina, Brazil, Peru and Colombia.  The Fresh Market purchase is the first foray of the company in North America.

In a statement, Cencosud noted, “This partnership provides Cencosud with access to the U.S. market where there is much greater depth of capital available.  Our company will be able to leverage best practices across existing Latin American businesses helping to drive increased performance and efficiencies.”

According to Supermarket News in 2021, The Fresh Market attained revenue of $2,000 million and is widely recognized as an efficient company operating within the Apollo Global Management portfolio.