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The Berry family, owners of Greensboro, N.C.-based specialty grocery chain The Fresh Market, said earlier this week it has decided to retain full control of the company, ending an exploration of alternative ownership started in April when the funding family engaged investment bank Goldman Sachs to test the investment waters.
"After receiving thoughtful and fair offers to purchase from a number of different companies, we have decided to retain ownership of The Fresh Market," said Brett Berry, president and c.e.o. "Simply put, as we went through the process of courting potential buyers and investors, we fell in love with the company all over again. We consider ourselves fortunate to continue to own and operate the company founded by our family over 25 years ago."
The company said it plans to sustain its aggressive growth plan in addition to expanding its reach into new markets.
Today The Fresh Market operates 80 stores in 18 states, concentrated in the Southeast, Midwest, and Mid-Atlantic, with plans for continued expansion in these areas. The Fresh Market is a family-owned, privately held company.