Grocery chain Fresh Market Inc. (Greensboro, N.C.) announced it has agreed to be acquired by private equity firm Apollo Global Management LLC (New York).
Reuters reports Apollo will offer strength to allow the chain to grow in a market of tough competitors like Walmart (Bentonville, Ark.)
Apollo will gain all 183 Fresh Market stores currently operating in 27 states. The sale is expected to close in the second quarter of this year.