SANTIAGO, Chile, Sept. 4 (UPI) -- Chilean holding company Cencosud (Centros Comerciales Sudamericanos) announced it has acquired full ownership of premium supermarket chain The Fresh Market after purchasing the remaining 33% stake held by investment fund AP VIII Pomegranate Holding.
The sale was valued at $295 million, according to a filing Cencosud made with Chile's Financial Market Commission, the country's financial regulator.
The Fresh Market was founded in 1982 by Ray and Beverly Berry in Greensboro, N.C., and specializes in high-quality fresh and healthy products, baked goods, prepared foods, floral arrangements and other items. The chain operates 172 stores in 22 states, mainly in Florida, North Carolina, Virginia and Georgia.
In 2022, Cencosud purchased a 67% stake in the company for $676 million, marking the Chilean retailer's entry into the U.S. market.
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