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Tony’s Fresh Market acquired by private equity firm Apollo

The family will remain involved both in management roles and as shareholders at Tony’s following the Apollo deal. Tony Ingraffia will be a shareholder and board member, said Andrew Jhawar, a partner at Apollo. Tony and Frank Ingraffia as well as some other family members will have “a significant equity investment” in the company, Jhawar said, though he declined to disclose their share. Gambino is retiring, the company said, though his family will continue to be involved in the business. The parties declined to comment on financial details of the transaction.

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