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Fairway Group Holdings Corp. Announces Pricing of Its Initial Public Offering

NEW YORK, April 17, 2013 (GLOBE NEWSWIRE) -- Fairway Group Holdings Corp., the parent company of Fairway Market, today announced the pricing of its initial public offering of 13,650,000 shares of Class A common stock at a price of $13.00 per share. The shares will be listed on the NASDAQ Global Market and will trade under the symbol "FWM" beginning April 17, 2013. Fairway Group is offering 13,407,632 shares of Class A common stock and selling stockholders are offering 242,368 shares of Class A common stock. The underwriters have a 30-day option to purchase up to an additional 2,047,500 shares from a group of selling stockholders to cover over-allotments. Fairway Group will not receive any proceeds from the sale of shares by the selling stockholders.

Fairway Group expects to receive proceeds, net of underwriters' discount and commissions and estimated offering expenses payable by Fairway Group, of approximately $158.8 million from the offering. Fairway Group intends to use the net proceeds for new store growth and general corporate purposes, after paying $76.8 million of accrued but unpaid preferred stock dividends, a management agreement termination fee and management bonuses.

Credit Suisse Securities (USA) LLC and BofA Merrill Lynch, along with Jefferies LLC and William Blair & Company, L.L.C., are the joint book-runners and the representatives of the underwriters for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 16, 2013. The offering is being made solely by means of a prospectus, copies of which may be obtained from:

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue
New York, NY 10010
Telephone: (800) 221-1037
E-mail: newyork.prospectus@credit-suisse.com
BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attn: Prospectus Department
E-mail: dg.prospectus_requests@baml.com
Jefferies LLC
520 Madison Avenue, 12th Floor
New York, NY, 10022
Attention: Equity Syndicate Prospectus Department
Telephone: (877) 547-6340
E-mail: prospectus_department@jefferies.com
William Blair & Company, L.L.C.
222 West Adams Street
Attention: Prospectus Department
Chicago, IL 60606
Telephone (800) 621-0687

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Fairway Market

Fairway Market is a high-growth food retailer offering customers a differentiated one-stop shopping experience "Like No Other Market". Fairway has established itself as a leading food retailing destination in the Greater New York City metropolitan area, with stores that emphasize an extensive selection of fresh, natural and organic products, prepared foods and hard-to-find specialty and gourmet offerings, along with a full assortment of conventional groceries. Fairway is headquartered in New York, New York.

CONTACT: Fairway Group Holdings Corp. Nicholas Gutierrez Manager of Finance & Investor Relations (646) 616-8103 nicholas.gutierrez@fairwaymarket.comSource:Fairway Group Holdings