Cencosud has announced that it will acquire the remaining 33% stake in The Fresh Market, giving the Chilean retailer full ownership of the U.S. specialty grocer. The deal, valued at approximately $295 million, builds on the company’s initial majority investment in 2022, when it purchased a 67% stake from Apollo Global Management. With the latest transaction, Cencosud will move from majority shareholder to sole owner.
The Fresh Market, based in North Carolina, operates more than 170 stores across the United States and is best known for its curated assortment of fresh produce, premium meats, and prepared foods. In recent years, the chain has been recognized by industry surveys and consumer rankings for its quality, customer service, and distinctive shopping environment. Cencosud’s leadership has indicated that taking full control will streamline decision-making and allow for closer integration with the company’s global strategy. By consolidating ownership, the retailer can more directly oversee operational initiatives, explore cross-market synergies, and accelerate investment in areas such as technology, supply chain, and merchandising.
Executives have framed the deal as part of Cencosud’s ongoing effort to diversify geographically while strengthening its footprint in one of the world’s largest retail markets. The acquisition comes at a time of heightened competition in the U.S. grocery sector, where consolidation, private-label growth, and shifting consumer expectations continue to reshape the industry. For The Fresh Market, having the backing of an international parent with significant scale could provide resources to modernize operations and compete more effectively against both national and regional players.
Founded in 1963, Cencosud has grown into one of Latin America’s largest retail conglomerates, with operations spanning supermarkets, home improvement, department stores, shopping centers, and financial services across Chile, Argentina, Brazil, Colombia, and Peru. The company has expanded internationally over the past decade, establishing a presence in the United States with its initial investment in The Fresh Market.
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