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The Fresh Market Plans 22 Locations

The Fresh Market parent company Cencosud, a Chilean retail chain, revealed in its latest earnings report that it intends to add 22 additional stores in the next two years. This translates into a roughly 12 percent growth in brick-and-mortar locations. 

Cencosud purchased the grocer roughly one year ago for $676 million and serves as the Chilean retail chain's first venture into the U.S. market. In May, it opened its first post-acquisition store in Carmel, Indiana. 

Over the year, the parent company has reported strong sales, boasting nine consecutive quarters of double-digit growth. Cencosud attributes much of the latest revenue bump, an increase of 12.9 percent, to the successful consolidation of The Fresh Market. 

“In these 12 months, The Fresh Market has contributed with an Adjusted EBITDA of US$ 210 million and an Adjusted EBITDA margin of 10.4 percent to the company's consolidated result, exceeding estimates,” said Cencosud CEO Matías Videla, in a statement.

The Fresh Market operates 160 grocery stores across 22 states. 

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