Let´s go The Fresh Market! Come on Cencosud!" I am very sure that it will be a tremendous experience and very profitable for both companies. Heike Paulmann, Chairwoman of the Cencosud board said, "Great step for Cencosud to enter the United States, in accordance with our diversification strategy. Post-closing, Cencosud's gross leverage will be approximately 3.1x and The Fresh Market's debt will be refinanced to improve its capital structure from an extended maturity and interest rate perspective. The primary cash component of US $265 million will strengthen the balance sheet of The Fresh Market, reducing the Company's net leverage to 2.7x EBITDA.Ĭencosud will finance the investment primarily through cash on its balance sheet. As a result of the transaction, Cencosud will acquire a 67% stake in The Fresh Market, with the current shareholders owning the remaining 33%. 35% in traditional supermarkets), with the fresh-focused offering helping to drive strong EBITDA margin performance and ~15% prepared foods, which is a key driver of growth and profitability.Ĭencosud has agreed to invest US $676 million to purchase a combination of primary and secondary equity in The Fresh Market. The Fresh Market reported revenue of US $1,933 million in 2021 with an adjusted EBITDA of US $196 million and EBITDA margin of 10.2%. The Fresh Market's Board of Directors (which Cencosud will have majority representation on) and its existing management team have vast experience in the American retail industry, and management will continue to operate the business and the existing shareholders will retain an equity stake in the Company, thereby contributing to the continued success of The Fresh Market and its strong corporate governance. In addition, Cencosud will be able to leverage best practices across its Latin American businesses to The Fresh Market, and accordingly incorporate best practices from The Fresh Market to its existing portfolio, helping to drive increased performance and efficiencies. ![]() This partnership also provides Cencosud with access to the US markets where there is a much greater depth of capital markets alternatives. ![]() Greenmarket Education Station hosts school and adult tours, cooking demonstrations, interactive displays, tastings, and peer-to-peer programming, at weekday markets, Spring through Fall.With this transaction, Cencosud expands its geographic diversification with approximately 12% of pro forma revenues coming from the United States, a traditionally defensive market with a stable currency. Information can be found at the Market Information Tent (look for the GrowNYC logo). All events will be held at Union Square unless otherwise noted.Ĭooking demonstrations take place at the Market Information tent every market day.Ĭookbook Signings happen throughout the season! Click here for a link to the schedule. We maintain a busy schedule of weekly events and activities. From just-picked fresh fruits and vegetables, to heritage meats and award-winning farmstead cheeses, artisan breads, jams, pickles, a profusion of cut flowers and plants, wine, ciders, maple syrup and much more. Located in one of New York City's great public spaces, the atmosphere at Union Square on a market day is electric: 60,000 market shoppers shop and chat with farmers students of all ages tour the market and learn about seasonality visitors watch and taste cooking demonstrations by some of New York's hottest local chefs. As Greenmarket's flagship market, the seasonal bounty is unparalleled, with hundreds of varieties to choose from during any given season. The world-famous Union Square Greenmarket began with just a few farmers in 1976, has grown exponentially in peak season 140 regional farmers, fishers, and bakers sell their products to a dedicated legion of city dwellers. ![]() Spend $2 in SNAP/EBT/P-EBT, get bonus $2 Health Buck, up to $10 per day. Cash, SNAP/EBT, Debit/Credit, Healthfirst OTC cards (LIP and CC members only), WIC & Senior FMNP coupons, and Greenmarket Bucks accepted.
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