Tony’s Fresh Market Grocery Chain Trades to Apollo
Private equity giant Apollo has acquired Tony’s Fresh Market, a mainstay of the Chicago region’s grocery sector. Established in 1979, Tony’s operates 18 stores across the Chicago metropolitan area with several more store locations currently in development.
The business has been family-owned and operated since its founding, and the founding family will partner with Apollo, both in management roles and as shareholders.
Frank Ingraffia, the CEO of Tony’s and a member of the founding family, said, “My family has been feeding our communities for generations and are incredibly excited to partner with Apollo to build upon that legacy of fresh and healthy food, at an affordable price and delivered with respect to the many cultures of our customers.”
Across its platform, New York-based Apollo has an extensive and successful track record investing in grocery companies, including The Fresh Market, Sprouts Farmers Market, Smart & Final and Albertsons.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).