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The Fresh Market, a Greensboro-based epicurean grocer, filed plans Monday to lift as most as $345 million in an IPO.
The chain, that has 95 stores in nineteen states, wants to enhance to 500 U.S. stores, according to the filing with the Securities and Exchange Commission. The association has fifteen stores in North Carolina together with dual in Raleigh, one in Cary and one in Chapel Hill. Fresh Market plans to open 9 stores this year.
The enlargement plans come as consumer spending is display signs of reconstruction after the recession. But Fresh Market faces augmenting foe from rivals such as Whole Foods Markets, that has scarcely 300 stores in the U.S., Canada and the U.K. And Fresh Markets largest marketplace is Florida, a state strike tough by the housing slump.
The IPO plans come as Wall Streets ardour for primary open offerings additionally is resilient with the broader batch market.
Despite the rival sell industry, Fresh Market could capture financier courtesy since the creation income and has a commercial operation that"seasy to grasp.
Fresh Market was founded in 1982 by Ray and Beverly Berry and non-stop the initial store in Greensboro. Last year sales rose to $861.9 million, up 8 percent from a year earlier. Net income rose 54 percent to $49.5 million.
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