Ever walked into a Fresh Market and felt like you were in a European street market rather than a suburban strip mall? The classical music, the dim lighting, those specific wicker baskets—it’s a vibe. But behind that cozy, "neighborhood grocer" aesthetic is a complex web of high-stakes corporate maneuvering. If you've been wondering who owns The Fresh Market lately, the answer isn't a local family anymore. It’s a massive global entity with a name that sounds more like a tech firm than a produce stand.
Currently, Cencosud, a retail giant based in Chile, holds the majority stake in The Fresh Market.
They didn't just stumble into the American South, either. In 2022, Cencosud shelled out roughly $676 million to acquire a 67% stake in the company. It was a move that caught a lot of industry analysts off guard, mostly because the previous owners, Apollo Global Management, seemed to be prepping for a massive IPO. Instead of going public, they went private—and international.
How we got here: From the Berrys to Apollo
The story of who owns The Fresh Market starts in 1982. Ray and Beverly Berry had just come back from a trip to Europe and realized that American grocery stores were, well, kind of soulless. They opened the first shop in Greensboro, North Carolina, with a focus on fresh perishables and a boutique feel. For decades, it was a family-run success story that eventually expanded across the East Coast.
But growth is a double-edged sword.
The company went public in 2010 (Nasdaq: TFM), but by the mid-2010s, they were getting hammered. Whole Foods was exploding, and even "normal" grocery stores like Kroger and Publix were starting to stock organic kale and fancy cheeses. The Fresh Market lost its edge. Sales dipped. Stock prices tumbled.
💡 You might also like: Replacement Walk In Cooler Doors: What Most People Get Wrong About Efficiency
Enter the "vulture" capitalists—though they’d prefer the term "private equity." In 2016, Apollo Global Management stepped in and bought the whole thing for about $1.36 billion. They took the company private, which basically means they could fix the plumbing away from the prying eyes of Wall Street. Apollo did what they do best: they cut costs, streamlined the supply chain, and narrowed the focus back to "fresh."
The Cencosud Era: Why a Chilean conglomerate?
You might be asking why a company from Santiago is running a grocer in North Carolina. It’s actually a brilliant move if you look at the balance sheets. Cencosud is one of the largest retailers in Latin America, with huge footprints in Brazil, Argentina, and Chile. They have money, but they lacked a "hard currency" foothold in the United States.
By buying The Fresh Market, Cencosud gained an immediate entry into the lucrative U.S. market without having to build a brand from scratch.
What’s interesting is that Apollo didn’t just walk away. They kept a 33% stake. It’s a partnership. Cencosud gets the prestige and the dollar-denominated revenue, while Apollo keeps a foot in the door in case the brand's value skyrockets further. Honestly, for the average shopper picking up a rotisserie chicken, not much has changed on the surface. But behind the scenes, the capital is flowing through a much more international pipeline.
The Competition is Brutal
The Fresh Market isn't operating in a vacuum. The ownership change happened because the "premium" grocery space is a battlefield.
📖 Related: Share Market Today Closed: Why the Benchmarks Slipped and What You Should Do Now
- Amazon (Whole Foods): They have the data and the Prime ecosystem.
- Sprouts Farmers Market: They own the "healthy at a discount" niche.
- Trader Joe's: They have the cult following.
- Publix (GreenWise): They have the regional loyalty.
Cencosud’s challenge is keeping The Fresh Market relevant when everyone else is trying to be "fresh" too. They’ve leaned heavily into "ready-to-eat" meals. If you've noticed more prepared salads and pre-marinated steaks lately, that’s the influence of new management trying to capture the "busy professional" demographic.
Is it still the same store?
Management shifts usually lead to "corporate creep"—where the unique quirks of a brand get sanded down for efficiency. Surprisingly, the Berrys' original vision is mostly intact. Cencosud seems to understand that if they turn The Fresh Market into a generic supermarket, they lose the very reason they bought it.
They are betting on the "sensory experience."
That’s a fancy way of saying they want you to smell the flowers at the entrance and hear the Vivaldi playing. They want you to spend $9 on a jar of artisanal honey because it feels like a luxury experience. The ownership might be corporate and Chilean, but the brand remains stubbornly focused on its North Carolinian roots.
What the future holds
Keep an eye on expansion. Cencosud has hinted at taking The Fresh Market into new territories. We might see more stores in the West or even potentially a "mini" version of the store in high-density urban areas.
👉 See also: Where Did Dow Close Today: Why the Market is Stalling Near 50,000
Another thing to watch? Technology. Cencosud is big on digital integration. You’ll likely see the app get much better, more personalized coupons, and perhaps a more robust delivery system that rivals what Amazon does with Whole Foods. They have to. In 2026, if you can’t get your organic blueberries delivered in under two hours, you’re basically a dinosaur.
Actionable Steps for the Informed Shopper
Since the ownership has stabilized under Cencosud, there are ways you can actually benefit from this corporate muscle.
First, use their loyalty program. The "Ultimate Loyal Member" program is much more aggressive now because Cencosud wants your data to justify their $676 million investment. You’ll find significant "member-only" pricing that actually makes the store competitive with standard grocers.
Second, check the "Little Meals" section. This has been a massive focus for the new owners. They are pouring money into their commissary kitchens to compete with restaurant-quality takeout.
Third, watch the labels. You’ll start seeing more unique imports that Cencosud’s global supply chain can provide—things you might not find at a standard Safeway or Kroger.
The Fresh Market is no longer a small family business. It’s a strategic asset in a global portfolio. But as long as the coffee smells good and the produce stays crisp, most shoppers won't mind that their grocery money is ultimately heading to an office building in Santiago.
For those tracking the business side, keep an eye on Cencosud’s quarterly earnings reports (listed on the NYSE as CNCO). It’s the best way to see if their "American Experiment" is actually paying off or if they’re struggling to keep up with the likes of Amazon and Walmart.