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Natural Foods Merchandiser

Apollo Global takes The Fresh Market private

Apollo Global takes The Fresh Market private

Certain funds affiliated with Apollo Global Management LLC (APO) (NYSE: APO) (together with its consolidated subsidiaries, "Apollo"), a leading global alternative investment manager, today announced the successful completion of the previously announced $28.50 per share cash tender offer for all of the outstanding shares of common stock of The Fresh Market (NASDAQ: TFM) ("The Fresh Market").

The tender offer, which was made pursuant to the agreement and plan of merger entered into by certain affiliates of Apollo and The Fresh Market (TFM) on March 11, 2016, expired as scheduled at midnight eastern time on April 21. A total of 32,103,659 shares of common stock of The Fresh Market (excluding 4,465,161 shares tendered by guaranteed delivery), representing approximately 68.2 percent of the outstanding shares, were tendered into and not withdrawn from the tender offer. According to the terms of the tender offer, all such shares (and any additional shares tendered by guaranteed delivery unless actual delivery does not occur) have been irrevocably accepted for payment, which will be made on April 27.

Concurrently with payment for the tendered shares, Apollo and The Fresh Market intend to complete the acquisition of The Fresh Market by merging it with an affiliate of Apollo. As a result of the tender offer and the merger, The Fresh Market will become a privately held, indirect wholly-owned subsidiary of the Apollo funds and certain other investors, and The Fresh Market's common stock will cease trading on the NASDAQ.

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