The Fresh Market
The Fresh Market is an American supermarket chain built around a European-style market atmosphere, fresh foods, specialty groceries, and prepared food.
Last updated August 25, 2026
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Overview
The Fresh Market is an American supermarket chain headquartered in Greensboro, North Carolina. Founded by Ray and Beverly Berry in 1982, the company was conceived as an alternative to conventional American grocery stores. Its original concept drew on the atmosphere of open European markets, emphasizing fresh produce, specialty foods, visual presentation, and a more curated shopping experience. The first store opened in Greensboro on March 5, 1982, in a former Bi-Rite location at the intersection of Lawndale Drive and Pisgah Church Road. The retailer expanded from its North Carolina base into a broader regional chain. Its assortment has centered on fresh produce, meat and seafood, deli products, bakery goods, specialty grocery items, wine and other beverages, and prepared foods. Store design and merchandising have historically been important parts of the brand proposition: produce displays, specialty departments, seasonal products, and an atmosphere intended to resemble a traditional food market distinguish the chain from large-format, price-led supermarkets. The business has therefore occupied a premium or specialty-oriented position within American food retail, while still operating as a full-service grocery store. The Fresh Market pursued geographic expansion during the 2010s. In 2012 it acquired and remodeled four stores formerly operated by Houston-based Rice Epicurean Markets. It also entered the western United States, opening its first store west of the Mississippi in Roseville, California, in October 2012. The western experiment was short-lived; in March 2014 the company announced the closure of its three Sacramento-area stores, including the Roseville location. In May 2016 it closed 13 stores in Texas, Iowa, Missouri, and Kansas, including the Rice Epicurean locations, substantially narrowing its geographic footprint. The company became publicly traded in 2010. After raising the price range for its initial public offering from $18–20 per share to $22, The Fresh Market raised $290 million and began trading on Nasdaq under the symbol TFM on November 5, 2010. Apollo Global Management acquired the company on April 27, 2016. The transaction took The Fresh Market private, and its Nasdaq listing was delisted. In March 2022, the company filed an updated prospectus for a possible new initial public offering, indicating an intention to return to public markets, although the referenced material does not establish that the offering was completed. Ownership changed again in 2022 when Chilean retail company Cencosud acquired a 67 percent stake. According to the referenced material, Cencosud announced on August 30, 2025, that it had purchased Apollo's remaining 33 percent interest, making Cencosud the sole owner. The Fresh Market has also faced recurring trademark disputes because of the descriptive and commonly used nature of the words in its name. Despite those disputes, the United States Patent and Trademark Office registered the company's name as a trademark in 2017. The brand has received consumer recognition in the United States. USA Today named it the Best Grocery Store in America for three consecutive years from 2021 through 2023. Its current identity remains associated with specialty-oriented grocery retail, fresh departments, prepared foods, and an intentionally market-like store environment.
History
The Fresh Market was established in Greensboro, North Carolina, by Ray and Beverly Berry on March 5, 1982. The founders sought to create a grocery store that differed from the increasingly standardized supermarket format. Their concept was inspired by the atmosphere of European food markets, with an emphasis on fresh merchandise, specialty foods, visually distinctive displays, and a more intimate shopping environment. The first location occupied a former Bi-Rite store at the corner of Lawndale Drive and Pisgah Church Road in Greensboro. From its North Carolina origin, the company expanded into a regional American supermarket chain. Its operating model combined the breadth of a full-service grocer with the presentation and product curation of a specialty market. Fresh produce, meat, seafood, bakery, deli, prepared foods, specialty groceries, and beverages became central components of the assortment. The brand's store environment and merchandising were intended to make routine grocery shopping feel more like visiting a traditional market than a large, impersonal supermarket. The company made several expansion moves during the 2010s. In 2012, it acquired four Houston stores formerly operated by the family-owned Rice Epicurean Markets and remodeled them under The Fresh Market banner. That same year it entered the western United States by opening a store in Roseville, California, in October. The western venture did not develop into a lasting regional presence. In March 2014, The Fresh Market announced that it would close all three of its Sacramento-area stores, including Roseville. The company subsequently retrenched further. In May 2016, it closed 13 locations in Texas, Iowa, Missouri, and Kansas. These closures included the former Rice Epicurean stores and reduced the chain's presence outside its stronger markets. The contraction illustrated the difficulty of extending a differentiated, specialty-focused supermarket concept across widely dispersed regions while maintaining a consistent economic model. The Fresh Market entered public markets in 2010. After raising the price associated with its initial public offering to $22, the company raised $290 million and began trading on Nasdaq on November 5 under the ticker TFM. Its public-company period ended in 2016, when Apollo Global Management acquired the company's stock. The transaction converted The Fresh Market into a privately held company and resulted in the delisting of its Nasdaq securities. In March 2022, The Fresh Market filed an updated prospectus for a potential new initial public offering. The filing indicated that the company was considering a return to public ownership, but the available reference does not establish that the proposed offering was completed. In May 2022, Chilean retailer Cencosud acquired a 67 percent stake in the company. The referenced material states that on August 30, 2025, Cencosud announced the purchase of Apollo's remaining 33 percent interest, making Cencosud the sole owner. The company has also been involved in disputes over the protectability of its name. Because “The Fresh Market” uses common descriptive words, other retailers have challenged the breadth or validity of the associated trademark. In 2005, The Fresh Market lost a dispute involving Marsh Supermarkets; the court characterized the mark as descriptive and weak, limiting its ability to claim broad protection. Additional disputes involved Fresh Market at Roth's and the Utah-based business A Fresh Market. The latter dispute likewise raised the argument that “Fresh Market” was too generic for extensive trademark protection. The United States Patent and Trademark Office registered the company's name as a trademark in 2017. Despite its ownership changes and geographic retrenchment, the brand has retained a distinct position in American grocery retail. Its proposition remains tied to fresh departments, specialty food selection, prepared foods, seasonal merchandising, and a market-style environment. Consumer recognition was reflected in USA Today's selection of The Fresh Market as the Best Grocery Store in America for three consecutive years, from 2021 through 2023.
- 2025
Cencosud becomes sole owner
[1]Cencosud announced the acquisition of Apollo's remaining 33 percent stake, according to the referenced material.
- 2022
Cencosud acquires a 67 percent stake
[1]Cencosud acquired a majority interest in The Fresh Market from its private-equity ownership.
- 2017
Company name registered as a trademark
[1]The United States Patent and Trademark Office registered The Fresh Market name as a trademark.
- 2016
Apollo acquisition and store closures
[1]Apollo acquired The Fresh Market, taking it private, while the company closed 13 stores in several states.
- 2014
Sacramento-area withdrawal
[1]The company announced the closure of its three Sacramento-area stores, including Roseville.
- 2012
Rice Epicurean acquisition and western expansion
[1]The Fresh Market acquired four Rice Epicurean stores and opened its first western location in Roseville, California.
- 2010
Initial public offering and Nasdaq listing
[1]The company raised $290 million through its IPO and began Nasdaq trading under TFM on November 5.
- 1982
First The Fresh Market store opens in Greensboro
[1]Ray and Beverly Berry founded The Fresh Market on March 5, 1982, opening the first store in a former Bi-Rite location in Greensboro, North Carolina.
Products and positioning
A specialty-oriented supermarket positioned between a conventional full-service grocery store and a premium food market. The brand emphasizes freshness, curated specialty products, attractive merchandising, prepared foods, and a European-style market atmosphere rather than a primarily price-led warehouse or discount proposition.
Grocery
Fresh produce
Fresh fruits and vegetables are central to The Fresh Market's identity. The company presents produce as a prominent part of the store experience, supporting its market-style positioning and emphasis on freshness, visual merchandising, and seasonal availability.
Fresh foods
Meat and seafood
The retailer's meat, poultry, and seafood departments extend its full-service grocery offer. These departments fit the brand's specialty-market orientation by emphasizing fresh food categories that traditionally anchor an open-market shopping experience.
Prepared foods
Deli and prepared foods
Deli selections and prepared foods provide ready-to-eat and ready-to-serve options alongside the store's fresh departments. They broaden the chain's role from ingredient retailer to convenient meal destination while reinforcing its specialty grocery positioning.
Fresh foods
Bakery products
Bakery merchandise forms part of the fresh-food assortment and contributes to the sensory, market-like character of the stores. The category complements produce, deli, meat, seafood, and specialty grocery departments.
Packaged food
Specialty groceries
The Fresh Market carries specialty grocery products selected to complement its fresh-food departments. This curated assortment helps distinguish the chain from conventional supermarkets whose propositions are more heavily centered on breadth, scale, or everyday price competition.
Brand decisions
2025
Acquire Apollo's remaining interestM&ABackground
Cencosud held a 67 percent stake while Apollo retained 33 percent.
Action taken
Cencosud announced on August 30, 2025, that it had acquired Apollo's remaining 33 percent stake.
Aftermath
According to the referenced material, Cencosud became the sole owner of The Fresh Market.
2022
Prepare for a possible return to public marketsStrategyBackground
After becoming privately held in 2016, The Fresh Market filed an updated prospectus in March 2022.
Action taken
The filing signaled an intention to pursue a new IPO.
Aftermath
The referenced material does not confirm that the proposed offering was completed.
2022
Sell a majority stake to CencosudM&ABackground
The Fresh Market remained privately owned after Apollo's 2016 acquisition.
Action taken
Chilean retail company Cencosud acquired a 67 percent stake in May 2022.
Aftermath
Cencosud became the controlling shareholder while Apollo retained the remaining interest at that stage.
2016
Accept Apollo Global Management acquisitionM&ABackground
After operating as a public company, The Fresh Market became the subject of a private-equity acquisition.
Action taken
Apollo Global Management acquired the company's stock on April 27, 2016.
Aftermath
The Fresh Market became privately held and was delisted from Nasdaq.
2016
Close 13 stores in four statesStrategyBackground
The company reassessed its geographic footprint after expansion into markets including Texas, Iowa, Missouri, and Kansas.
Action taken
The Fresh Market closed 13 locations, including the four former Rice Epicurean stores.
Aftermath
The closures represented a substantial geographic retrenchment and concentrated the chain in fewer markets.
2014
Withdraw from the Sacramento-area marketStrategyBackground
The company's western expansion had produced three Sacramento-area stores, including its first western location in Roseville.
Action taken
The Fresh Market announced the closure of all three Sacramento-area stores.
Aftermath
The decision ended the company's initial western presence.
2012
Acquire and remodel four Rice Epicurean storesM&ABackground
The Fresh Market sought to expand its presence in Houston through an established family-owned grocery business.
Action taken
It acquired and remodeled four Rice Epicurean Markets locations.
Aftermath
The locations were later closed in 2016 when the company withdrew from Texas and several other states.
2010
Proceed with a public offering at an increased priceOtherBackground
The Fresh Market was preparing to enter public markets and increased its IPO price from an indicated range of $18–20 to $22.
Action taken
The company completed the offering, raised $290 million, and listed on Nasdaq under TFM on November 5, 2010.
Aftermath
The transaction established The Fresh Market as a publicly traded company until its acquisition by Apollo in 2016.
IPO proceeds. $290 million (2010 IPO)
Recent events
The Fresh Market appoints two board members[2]
Reported:
The Fresh Market named Heather Berger and Sue Gove as new members of its Board of Directors.
Sources2 sources
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