News Briefs for March 15, 2016March 15, 2016
•The Fresh Market retail chain has agreed to be acquired by private equity Apollo Global Management for $1.36 billion, a 24% premium over the company’s Friday closing price. Kroger had been in the hunt for The Fresh Market, along with KKR and TPG Capital. North Carolina-based The Fresh Market, which competes with Whole Foods, has 186 stores across 27 states, mainly in the Southeast.
•Albertsons is set to acquire bankrupt competitor Haggen’s 29 stores in the Pacific Northwest for $106 million. Albertsons plans to operate 15 of the stores under the Haggen’s name, while converting the rest to its own banner.
•Lodi, California-based SIP Moscato has debuted a new California rosé extension. Rolling out nationwide this month, SIP Rosé is made in a French style from 100% Pinot Noir, retailing at around $15 a 750-ml. Launched in 2012 by wine industry veterans Tyson Rippey, Barry Gnekow, Joseph Smith and Mark Albrecht, the SIP brand is marketed in the U.S. by Sonoma’s Vintage Point. SIP Rosé’s rollout comes as the rosé segment surges in the U.S., with the category up 28% in the 52 weeks endedJanuary 30, according to Nielsen.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.