Apollo Global nears deal to acquire Fresh Market-sources

Kroger bids to acquire Fresh Market
Kroger bids to acquire Fresh Market

Private equity firm Apollo Global Management is nearing a deal to acquire Fresh Market, a U.S. specialty grocery retailer, for more than $1.3 billion, people familiar with the matter said on Friday.

Apollo has prevailed in auction for Fresh Market with a cash offer of $28.50 per share, and is now finalizing the terms of the deal, one of the people added.

An agreement could be announced as early as Monday, the people said, cautioning it had not yet been finalized and that it was still possible for the deal to be amended or fall apart in the last minute.

Apollo declined to comment, while Fresh Market representatives did not immediately respond to requests for comment.