Apollo Funds Acquire Tony's Fresh Market

Apollo Funds to Acquire Cardenas Markets from KKR and Combine with Tony's Fresh Market

June 13, 2022

Retail

Funds managed by Apollo (Apollo Funds) agreed to acquire Cardenas Markets from investment funds affiliated with KKR and will combine Cardenas with Apollo portfolio company Tony's Fresh Market to create a leading Hispanic- and ethnic-focused grocer. The combined business will operate across California, Nevada, Arizona and the Midwest with nearly 80 stores and approximately $1.8 billion in combined revenues; financial terms were not disclosed.

Cencosud Acquires 67% Stake in The Fresh Market from Apollo Funds

May 11, 2022

Retail

Cencosud agreed to acquire a 67% majority stake in The Fresh Market Holdings, Inc. for a $1.568 billion enterprise valuation, investing $676 million in a mix of primary and secondary equity. The deal provides Cencosud with entry into the U.S. market while existing shareholders (including funds managed by Apollo, the Berry family and management) retain a minority interest and The Fresh Market’s management will continue to operate the business.

GrubMarket Acquires Leo's Apples Inc

December 8, 2020

Food & Beverage

GrubMarket has acquired Leo's Apples Inc, a New York City-based fresh fruit provider, to accelerate its national expansion and strengthen its presence in the Northeast. Leo's Apples will remain based in New York and under its current management while gaining access to GrubMarket's WholesaleWare SaaS platform and broader supplier/customer network.

Apollo-Managed Funds to Acquire The Travel Corporation

July 16, 2024

Restaurants & Hospitality

Apollo-managed funds have entered into a definitive agreement to acquire The Travel Corporation (TTC), a privately held portfolio of 18 travel brands including Trafalgar, Uniworld Boutique River Cruises, Contiki and Insight Vacations. The deal — excluding certain assets such as The Red Carnation Hotel Collection — is part of TTC's family succession plan and is expected to close in Q4 2024, subject to customary closing conditions and regulatory approvals.

GrubMarket Acquires Fresh Tex Produce

September 15, 2020

Food & Beverage

GrubMarket has acquired Fresh Tex Produce, a Texas-based fresh fruit and vegetable supplier, to accelerate its national expansion and deepen its supplier network in Texas. Fresh Tex Produce will remain based in Alamo, Texas and continue to be managed by its current leadership while gaining access to GrubMarket's WholesaleWare SaaS and broader customer network.

Apollo Funds Make Strategic Equity Investment in PetSmart

July 24, 2023

Retail

Funds managed by affiliates of Apollo Global Management have agreed to make a strategic equity investment in PetSmart, with BC Partners and its co-investors (including GIC and PetSmart management) remaining majority shareholders and retaining board control. The investment is intended to support PetSmart’s growth and operational initiatives across its omnichannel retail and services business; the transaction is expected to close in Q4 2023 and terms were not disclosed.