12/27/2022 0 Comments Fresh market![]() This unique value proposition is a result of the successful strategy executed and the commitment of a team of highly experienced executives led by Jason and Andy. ![]() Widely recognized by market specialists and customers alike for its customer-centric culture, excellence in fresh produce and memorable shopping experience in its stores. Matias Videla, Chief Executive Officer of Cencosud mentioned, "The Fresh Market is one of the best supermarkets in the USA. Let´s go The Fresh Market! Come on Cencosud!" I am very sure that it will be a tremendous experience and very profitable for both companies. Heike Paulmann, Chairwoman of the Cencosud board said, "Great step for Cencosud to enter the United States, in accordance with our diversification strategy. Post-closing, Cencosud's gross leverage will be approximately 3.1x and The Fresh Market's debt will be refinanced to improve its capital structure from an extended maturity and interest rate perspective. The primary cash component of US $265 million will strengthen the balance sheet of The Fresh Market, reducing the Company's net leverage to 2.7x EBITDA.Ĭencosud will finance the investment primarily through cash on its balance sheet. ![]() As a result of the transaction, Cencosud will acquire a 67% stake in The Fresh Market, with the current shareholders owning the remaining 33%. 35% in traditional supermarkets), with the fresh-focused offering helping to drive strong EBITDA margin performance and ~15% prepared foods, which is a key driver of growth and profitability.Ĭencosud has agreed to invest US $676 million to purchase a combination of primary and secondary equity in The Fresh Market. The Fresh Market reported revenue of US $1,933 million in 2021 with an adjusted EBITDA of US $196 million and EBITDA margin of 10.2%. The Fresh Market's Board of Directors (which Cencosud will have majority representation on) and its existing management team have vast experience in the American retail industry, and management will continue to operate the business and the existing shareholders will retain an equity stake in the Company, thereby contributing to the continued success of The Fresh Market and its strong corporate governance. In addition, Cencosud will be able to leverage best practices across its Latin American businesses to The Fresh Market, and accordingly incorporate best practices from The Fresh Market to its existing portfolio, helping to drive increased performance and efficiencies. This partnership also provides Cencosud with access to the US markets where there is a much greater depth of capital markets alternatives. The Fresh Market may also be known as or be related to FRESH MARKET INC., The Fresh Market, The Fresh Market Inc and The Fresh Market, Inc.With this transaction, Cencosud expands its geographic diversification with approximately 12% of pro forma revenues coming from the United States, a traditionally defensive market with a stable currency. ![]() The data presented on this page does not represent the view of The Fresh Market and its employees or that of Zippia. None of the information on this page has been provided or approved by The Fresh Market. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. The employee data is based on information from people who have self-reported their past or current employments at The Fresh Market. Zippia gives an in-depth look into the details of The Fresh Market, including salaries, political affiliations, employee data, and more, in order to inform job seekers about The Fresh Market. ![]()
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