It was agreed that Apollo Global Management is taking over Fresh Market Inc. Chairman and founder Ray Berry is not so pleased and is considering of making the company private where he and his son own 9.8% of shares. This would be Apollo's third largest acquisition that is worth more than a billion dollars.
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The news came as a surprise because previously the grocer had faced significant drop in sales and shares. Tesco also reported its lowest-ever sales last year on April. Other grocers also reported better sales than predicted.
