By Colin Kellaher


Fresh Market Holdings Inc., the specialty grocery chain backed by Apollo Global Management Inc., on Wednesday said it is dropping plans for an initial public offering.

In a brief filing with the U.S. Securities and Exchange Commission, the Greensboro, N.C., company didn't say why it was pulling the plug on the proposed IPO.

However, Chilean retail conglomerate Cencosud S.A. in May said it had agreed to invest $676 million to acquire a 67% stake in Fresh Market, with current investors, including Apollo, retaining a minority stake.

Apollo took Fresh Market private in 2016 in a deal worth about $1.4 billion.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

07-13-22 0842ET