Fresh Market Announces Merger Agreement - Quick Facts

(RTTNews) - The Fresh Market, Inc. (TFM), a specialty grocery retailer, and an affiliate of Apollo Global Management, LLC (APO) announced they have entered into a definitive agreement whereby certain funds managed by Apollo will acquire The Fresh Market for approximately $1.36 billion. The transaction will be implemented through a cash tender offer at $28.50 per share.

Fresh Market said the transaction was unanimously approved by the Board of the company, other than Ray Berry, Chairman and Founder, who recused himself from all Board discussions related to the review and from the Board vote. The deal is conditioned upon satisfaction of the minimum tender condition which requires that shares representing more than 50 percent of the company's common shares, other than shares held by Ray and Brett Berry that are being rolled over, be tendered.