M&A Deal Summary

Cencosud Acquires Fresh Market

On May 11, 2022, Cencosud acquired retailer Fresh Market from Apollo Global Management for 2M USD

Acquisition Highlights
  • This is Cencosud’s 1st transaction in the Retail sector.
  • This is Cencosud’s largest (disclosed) transaction.
  • This is Cencosud’s 1st transaction in the United States.
  • This is Cencosud’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2022-05-11
Target Fresh Market
Sector Retail
Buyer(s) Cencosud
Sellers(s) Apollo Global Management
Deal Type Add-on Acquisition
Deal Value 2M USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Fresh Market

Greensboro, North Carolina, United States
website
Fresh Market is a grocery retailer focused on providing high-quality products in a unique and inviting atmosphere with a high level of customer service. Fresh Market was founded in 1982 and is based in Greensboro, North Carolina.

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Buyer(S) 1

Buyer

Cencosud

Las Condes, Chile

website


Category Company
Founded 1963
Sector Retail
Employees121,115
Revenue 11,760.1B CLP (2021)
DESCRIPTION

Cencosud is a group operates a diversified portfolio of retail segments including 915 supermarkets, 108 home improvement and construction stores, 49 department stores, and 67 shopping centers and malls. Cencosud was incorporated in 1963 and is headquartered in Las Condes, Chile.


DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 59 of 65
Sector (Retail) 7 of 7
Type (Add-on Acquisition) 17 of 19
State (North Carolina) 2 of 4
Country (United States) 44 of 49
Year (2022) 3 of 6
Size (of disclosed) 17 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-20 Tony’s Fresh Market

Itasca, Illinois, United States

Tony’s Fresh Market is a unique specialty grocer that offers high-quality, affordable groceries with an inclusive assortment aimed at the diverse communities it serves. Tony’s Fresh Market was established in 1979 and is based in Itasca, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-24 Direct ChassisLink

Charlotte, North Carolina, United States

Direct ChassisLink is a provider of equipment and asset management services to the U.S. intermodal industry. DCLI provides chassis leasing and chassis/container management services to container shipping companies, railroads, terminal operators, logistics companies, motor carriers, and beneficial cargo owners through its advantaged network, information technology, and field management organization. Direct ChassisLink was founded in 2009 and is based in Charlotte, North Carolina.

Sell -