The Fresh Market

The Fresh Market, Inc.
Private
Industry Retail
Founded March 5, 1982
Founders Ray Berry and Beverly Berry
Headquarters Greensboro, North Carolina, U.S.
Number of locations
 159 (all in USA)
Area served
 Southeastern U.S.
Mid Atlantic U.S.
Midwest
Key people
 Larry Appel (CEO)
Products Food
Revenue US$1.75 billion
(2014)[1]
US$103.6 million
(2014)[1]
US$63 million
(2014)[1]
Number of employees
 13,000
Website thefreshmarket.com

The Fresh Market is an American chain of gourmet supermarkets based in Greensboro, North Carolina.[2]

History

The Fresh Market was founded by Ray and Beverly Berry on March 5, 1982 in Greensboro, North Carolina. The Berrys' idea was to develop a better grocery store that brought back the feeling of open European-style markets.[3] The company operates 176 stores in 24 states,[4] located in the Southeast, Midwest, Mid-Atlantic and Northeast, with plans for continued expansion throughout the country. Their first store in the West opened in October 2012 in Roseville, California. However, in March 2014, the company announced that it was closing all three of its Sacramento area stores including its Roseville store.[5]

In 2012, Fresh Market acquired and remodeled four locations of longtime family-owned Houston grocer Rice Epicurean Markets.[6] These locations were subsequently closed in May 2016 when Fresh Market shuttered its 13 locations in Texas, Iowa, Missouri, and Kansas.[7]

After increasing the price of its initial public offering from $18–20 to $22, Fresh Market raised $290 million, and on November 5, 2010, began trading on Nasdaq using the symbol TFM.[8]

Apollo Global Management, LLC (APO), a leading global alternative investment manager, acquired the stock of The Fresh Market, Inc. (TFM) ("The Fresh Market") as of April 27, 2016. As a result, The Fresh Market became a privately held company and The Fresh Market's common stock ceased trading on the NASDAQ.

Dairy

In addition to organic milk, The Fresh Market sells grass-fed milk that is homogenized and is pasteurized to kill harmful bacteria while preserving vitamins and helpful enzymes. Meat and dairy products from grass-fed animals can produce 300-500% more conjugated linoleic acid (CLA) than those of cattle fed the usual diet of 50% hay and silage, and 50% grain.[9]

Locations

Fresh Market operates stores in these US states:[10]

  • Alabama - 7
  • Arkansas - 2
  • Connecticut - 3
  • Delaware - 1
  • Florida - 46
  • Georgia - 13
  • Illinois - 4
  • Indiana - 4
  • Kentucky - 2
  • Louisiana - 5
  • Maryland - 4
  • Massachusetts - 1
  • Mississippi - 1
  • New Jersey - 2
  • New York - 4
  • North Carolina - 21 & current headquarters
  • Ohio - 5
  • Oklahoma - 1
  • Pennsylvania - 5
  • South Carolina - 9
  • Tennessee - 8
  • Utah - 14
  • Virginia - 13

References

  1. 1 2 3
  2. ↑ "Contact Us Archived 2010-09-23 at the Wayback Machine.." Fresh Market. Retrieved on July 13, 2010. "Mail: 628 Green Valley Road Suite 500 Greensboro, NC 27408-7041"
  3. ↑ "Archived copy". Archived from the original on 2007-05-31. Retrieved 2007-06-22.
  4. ↑ http://www.thefreshmarket.com/about.html%5Bpermanent+dead+link%5D
  5. ↑ "Archived copy". Archived from the original on 2014-03-07. Retrieved 2014-03-31.
  6. ↑ Kaplan, David. "Rice Epicurean to close four stores to make way for The Fresh Market." Houston Chronicle. November 14, 2012. Retrieved on November 15, 2012.
  7. ↑ "The Fresh Market announces closure of 13 locations across the U.S., including four in Houston". Houston Chronicle. 2016-05-03. Retrieved 2017-11-14.
  8. ↑ "Report: Fresh Market raises $290 million at IPO". News & Record. 2010-11-05. Retrieved 2010-11-05.
  9. ↑ Dhiman, T. R. (2001). "Role of diet on conjugated linoleic acid content of milk and meat". Journal of Animal Science. 79.
  10. ↑ "Store Locations - The Fresh Market".
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